IMF, AfDB pledge to help Cameroonian economy withstand external shocks

first_imgAfrican Development Bank (AfDB) President Akinwumi Adesina speaks during an interview with Reuters in Dar es Salaam, Tanzania August 17, 2019. Picture taken August 17, 2019. REUTERS/Emmanuel Herman African Development Bank (AfDB) President Akinwumi Adesina speaks during an interview with Reuters in Dar es Salaam, Tanzania August 17, 2019. Picture taken August 17, 2019. REUTERS/Emmanuel HermanA joint delegation of International Monetary Fund (IMF) and African Development Bank (AfDB) on Friday pledged to accompany Cameroon in its efforts to overcome external shocks to its economy.Head of delegation Amadou Sly said that shocks linked to insecurity could affect the economy adversely if not well addressed.“We are hopeful that the country (Cameroon) can now start thinking about how to reap the peace dividends. Now, we see an upside risk in the sense of having peace dividends should things move in the right direction,” Sly told reporters after meeting with Cameroon’s Prime Minister Joseph Dion Ngute in the capital, Yaounde.Cameroon is facing security challenges in the Far North region where terror group Boko Haram continues to terrorize citizens. In its English-speaking regions, armed separatists want to create an independent nation since 2017.Besides the security concerns, an explosion that hit Cameroon’s lone refinery in June has negatively affected the banking sector and the collection of tax revenue in the country, Sly said.The delegation made the observations after a two-week evaluation meeting in Cameroon.Related IMF warns of urgent need for reform on Nigeria’s economy IMF pledges financial support to restore battered Zimbabwe economycenter_img IMF lends Burundi $6.9 Million to bolster Economylast_img read more

Liberty humble Hasaacas

first_imgFirst half brace by Mawuli Tuglo aided Dansoman-based Liberty Professionals to chalk a 2-0 victory over Sekondi Hasaacas in their Week 13 Glo Premier League encounter at the Ohene Djan sports stadium, Accra on Wednesday.The indifferent and lackluster display by the Hasaacas’ lads from the opening minutes to the end became a true reflection of their place among the bottom-placed clubs, allowing Liberty the better of the exchanges from the onset.On the fourth minute mark, Tuglo finished off a solo move after beating an offside trap set by the Hasaacas defence before slotting past goalkeeper Wilson Yeboah for the opener.Four minutes on, the slippery attacker authenticated his side’s lead with a close range effort following a Saliu Muntari blunder.The visitors fought on and were gifted with a fine opportunity to reduce the deficit, but Charles Nartey’s goal bound shot ricocheted of the crossbar with the rebound from Joseph Bissah going wide.The visitors resumed the second half strongly but failed to convert their dominance in ball possession into goals. Veteran striker Joseph Agyemang of Asante Kotoko and King Faisal fame was unlucky to see his shot across the goal-line on 77 minutes miss target narrowly, in what was the closest the “Do the Do” lads came at reducing the deficit.Seven minutes from time, Hasaacas goalie Yeboah scored full marks by stopping Latif Salifu’s shot with his feet after a one-two display with Tuglo.The result means the Sekondi-based club’s trip to Accra yielded no points, after Hearts of Oak beat them by a lone goal last Sunday.Source: GNAlast_img read more