IMF reaches staff agreement with Cameroon that could unlock $73.6 million

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People attend the Mvog Ada market in Yaounde

WASHINGTON – The International Monetary Fund said on Wednesday its staff had reached an agreement with Cameroon on the second review of its loan programs that could lead to the disbursement of $73.6 million if approved by the Fund’s Executive Board.

The Fund said Cameroon’s economic outlook remains positive, with growth of 3.8% expected for 2022, but uncertainties are rising due to sharp increases in prices for oil, fertilizer and foodstuffs driven by the war in Ukraine.

(Reporting by David Lawder; Editing by Chris Reese)