Cameroon: Selected Issues

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2015 Issue 332

Publication date: December 2015

ISBN: 9781513599588

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Topics covered in this book

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Public Finance , Economics- Macroeconomics , Labor , Inflation , Exports and Imports , ISCR , CR , price , SOEs , government , SONARA , SOE activity , accounts receivables data point , government transfer , change rule , SOE profitability , SOE value , equalization board , price-smoothing mechanism , cost base , SOE debt , SOE Arrears , Oil prices , Contingent liabilities , Public enterprises , Inflation , Energy subsidies , Global

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Summary

This Selected Issues paper examines recent performance and reform agenda for Cameroon’s state-owned enterprises (SOEs). Cameroon’s SOEs are important providers of formal employment and have a large weight in the economy. The profitability and financial autonomy of SOEs have deteriorated in recent years, draining scarce budget resources. In addition, SOEs have amassed significant contingent liabilities in the form of debt and arrears. Weak corporate governance is a key factor in SOEs’ poor performance. The reform agenda should include enhancing the monitoring of SOEs, improving disclosure of their contingent liabilities, and strengthening their governance.