An IMF team led by Christine Dieterich held discussions in Yaoundé from September 17 to September 30 as part of Cameroon’s Post-Financing Assessment.
Cameroon’s economy grew by 3.5% in 2025, matching the growth recorded in 2024. However, the IMF expects economic activity to slow slightly in 2026. “The services sector continues to show strength, but declining hydrocarbon production and delays in boosting electricity transmission capacity suggest a slight slowdown in 2026,” Dieterich said.
Average inflation declined to 2.6% through August, although accelerating food prices are expected to reverse the improvement.
Fiscal conditions weakened in 2025, with the overall budget deficit increasing from 1.5% of gross domestic product in 2024 to 2.1%.
The IMF expects a further modest deterioration in 2026 as the international oil-price shock generates substantial fuel subsidies. “The outlook remains subject to downside risks, notably international capital market conditions, slow reform implementation, and continued security and climate-related challenges,” Dieterich said.
“Cameroon’s debt sustainability analysis remains at high overall risk of debt distress.”
The Fund called for tighter fiscal policy, stronger domestic revenue collection and increased use of concessional financing to preserve economic stability and manage debt risks. “Sustaining hard-won macroeconomic stability in a shock-prone world requires fiscal tightening, boosting domestic revenue mobilisation, and marshalling concessional financing,” Dieterich said.
The measures should be accompanied by reforms supporting economic growth, including stronger oversight of public spending and improved management of state-owned enterprises.
Cameroon should also deepen the financial sector to expand economic opportunities and strengthen resilience against future shocks.
The IMF team met government and central bank representatives, civil society organisations, private businesses, banks and development partners during the mission.
A Post-Financing Assessment is conducted for countries with substantial outstanding IMF credit that do not have an IMF-supported or staff-monitored programme.
The assessment examines government policies, the consistency of the macroeconomic framework with medium-term viability and the country’s ability to repay the Fund.
The IMF Executive Board is expected to discuss Cameroon’s 2026 Post-Financing Assessment in December.
–IMF/ChannelAfrica–
