7, July 2018
IMF projects 4% economic growth in Cameroon, warns against Anglophone crisis 0
Cameroon’s economy is expected to grow 4 percent this year, up from 3.2 percent in 2017 due to the start of natural gas production and construction work for an upcoming soccer tournament, the International Monetary Fund (IMF) said.
Growth was slower in 2017 because of a sharp decline in oil output but new infrastructure projects and increased private investment should bring it to at least 5 percent in the medium term, the IMF said in a statement late on Friday.
Cameroon, one of central Africa’s largest economies, produces about 180,000 barrels per day of oil and is Africa’s fourth-biggest cocoa producer.
The IMF statement followed a decision by its executive board to approve the disbursement of $77.8 million as part of a three-year, $680.7-million financial aid package.
Security risks
The IMF warned, however, that the economy faces considerable risks, including deteriorating security in its English-speaking regions — cocoa and oil-producing areas where separatists are waging a deadly insurgency, and high debts.
“With significant spending pressures associated with the 2018 elections, a worsening security situation and the 2019 African Soccer Cup, any additional oil revenue should be saved,” said Mitsuhiro Furusawa, the Fund’s deputy managing director, referring to the 2019 Africa Cup of Nations due to be held next June.
President Paul Biya is due to stand for re-election in the vote later this year. The 85-year-old has governed since 1982 with little tolerance for dissent.
REUTERS























8, July 2018
2018 World Cup: Croatia beat Russia 4-3 on penalties 0
Croatia have ended Russia’s World Cup dream after they won 4-3 on penalties to meet England in the World Cup semifinals in Moscow on Wednesday.
Croatia were better side of the match, but Villarreal midfielder Denis Cheryshev put Russia ahead in the 31st minute with curling shot from outside of the box.
Andrej Kramaric leveled the match for Croatia before the break from a Mario Mandzukic cross. Domagoj Vida gave Croatia advantage in extra-time from a Luka Modric corner.
Russia’s Defender Mario Fernandes brought his side level through a header in the 115th-minute to send the match to penalty shootout where Russians journey through their own World Cup ended in heartbreak at the Fisht Olympic Stadium.