Thursday, September 18, 2008


The International Monetary Fund (IMF) will design a new poverty alleviation programme for Cameroon.

Observers interpret the development as signifying the failure of a current scheme promoted by the institution.

The Poverty Reduction and Growth Facility Programme (PRGF), aimed at enhancing government spending, failed to produce desired results.

Experts cite poor implementation of macroeconomic reforms as a major drawback.

However IMF boss Dhaneshwar Ghura, praised Cameroon’s overall economic performance in the first quarter of this year.

He noted that the non-oil sector grew by 4.6% and indicated improved investment in energy, agriculture, water and infrastructure.

Ghura also lauded government measures to control recent credit-crunch influenced price hikes. But critics question the effectiveness of such interventions as basic commodities remain costly.

Pledging IMF commitment to the new programme, Dhaneshwar Ghura, advocated greater transparency in governance and state expenditure as essential to tackling corruption.

Finance Minister, Essimi Menye, acknowledged shortcomings of the PRGF but underscored its successes.

Critics say the new campaign would prove worthless unless the problems which hampered the old one are dealt with.

By Ngum Ngafor

Reporter’s side note:

Hmm Chairman. First he’s accused of killing someone, but not before he’s dragged a minister to court. The ever colourful lives and times of Ni & Popol. Watch this space…

While I don’t want to come across as trivialising the SCNC’s cause, allow me to make this observation; the last time a nation followed a man named Hitler… well you know the rest :))

And as for the IMF and Pays, why do we never learn! Like structural adjustments ever helped us (or anyone in Africa for that matter). Does any sane person go to a doctor who prescribes the wrong medicine!!! Remember that old saying: “Better the devil you know than angel you don’t?” Well I’ll take my chances with an unknown angel in this case. Decision makers, I hope una dey read Dulce Camer!
Lol Ngum, mami you ova funny! I like the little reporter's side note though!
Keep up the great work and once again thanks for the contribution.
Big up to our great News Correspondent y'all!
That's all from me
Stay sweet as always

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