Cameroon negotiates new IMF financing agreement for 2026-2029

The Cameroonian government is negotiating a new financing agreement with the International Monetary Fund (IMF) for 2026-2029. The previous program, which ended in July 2025, provided significant budget support. The new agreement is crucial for Cameroon's budget plans, as it would cover nearly 30% of the projected deficit for 2027. The decision is pending President Paul Biya's approval, and the country faces financial pressures, including a credit rating downgrade and declining foreign reserves.