In-Depth Analysis
Cameroon
Cameroon has abundant natural resources, but the cumbersome business environment and infrastructure gaps are major obstacles. The coronavirus pandemic will reduce growth prospects and underpin the need for infrastructural development. The centralised power structure keeps political risk elevated, while insecurity in the restive Anglophone regions remains a perennial concern.
Cameroon’s prospects have improved over the past quarter. Rallying commodity prices together with the ongoing recovery in global trade bode well for fiscal revenues, export receipts, and economic growth. The staff-level agreement with the IMF for a new three-year deal is set to lift Cameroon’s growth path over the next few years, while the recent Eurobond sale will ease immediate concerns regarding the country’s ability to service debt obligations. On the other hand, vaccine hesitancy in the country and the absence of a clear vaccination strategy dampen growth prospects. Overall, we forecast real GDP growth of 3.3% this year. (Source: Cameroon Quarterly Update, July 2021.)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-4.0 |
|
Consumer Price Index (% change y-o-y, avg) |
2.4 |
|
Current Account Balance (as a % of GDP) |
-4.4 |
|
Real GDP (annual % change) |
0.6 |
|
GDP per Capita, US$ |
1,499.9 |
|
Import Cover (months) |
5.9 |
|
Population, million |
26.5 |
| Total External Debt (as a % of GDP) |
37.6 |