Cameroon – Economic Crisis: “The loan has an eschatological significance..why not 665 or 667…why 666?” asks an economist

Written by Deckson N.

The economist spoke about the new agreements just signed by Cameroon and the International Monetary Fund.

On June 26, 2017, the Executive Committee of the International Monetary Fund (IMF) approved a three-year program called “Extended Credit Facility” with Cameroon for approximately $ 666.2 million. To support the country’s economic and financial reform program, $ 171.3 million will be released immediately. And as stated in Le Quotidien de l’Economie published on June 28, 2017, the remaining amount will be released gradually over the duration of the program after semi-annual reviews. Approached by the daily newspaper Le Jour on June 28, 2017, economist Bernard Ouandji spoke on these new agreements signed between Cameroon and the IMF the UN institution. On the significance to be given to the said agreements, he declared

from the outset I am the man who had foreseen the crisis we are experiencing at the moment. In January 2015 I published on the Internet a series of forecasts with a fair prescience that the price of crude oil would change between 45 and 55 dollars until 2017 but nobody in the Government believed it since the Government hoped a rise to $ 89 in March 2015 “.

Still speaking of the meaning to be given to the recent agreements between Cameroon and the IMF, the economist continues

these agreements have an eschatological meaning, they could have rounded to 667 or left to 665, it smells the end, we finished. On the Canal 2 stage on December 4th, I brought the contradiction to a staff of the General Secretariat of the CPDM, Simon a brave guyr, how Cameroon’s economy is resilient, the growth rate is 6% etc. So I said that 2017 will be very tough financially, Simon retorted, “Do not listen to Mr. Ouandji, he’s an opponent.” Six months later, the CPDM is asking money from the IMF, so shameful.

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Deckson N.

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