Cameroon ranked 21st in Africa, on the resilience capacity of its economy against external shocks

 The American firm Frontier Strategy Group has just published its 2016 ranking of countries based on their resilience against external shocks. According to the American firm, Cameroon gets the 21st spot in sub-Saharan Africa. The country is more importantly the first of the CEMAC area in this ranking, ahead of Gabon (24th).

Once more topped by Mauritius and Cape Verde, who are undoubtedly the African superstars of the different international rankings since last year, this league table confirms the comments recently made by the MD of the IMF, Christine Lagarde, during her first visit of Cameroon from 7 to 9 January 2016.

In effect, one can remember that Mrs Lagarde was pleased with the “very god results” posted by the Cameroonian economy, due in part to a “good resilience against the double shock”

of the fight against the Nigerian Islamist sect Boko Haram, who has been wreaking havoc in the Extreme-North of the country; and the drop in oil prices on the international market, which revenues make up 25% of the national budget.

The proof of that, according to the IMF, is that while the CEMAC posted a global growth rate of 2% in 2015 (in 2016, we should expect 3.5% according to current forecasts, Ed.), this indicator in Cameroon accrued to“almost 6% during the last two years”, the MD of IMF stressed during her stay in Cameroon.

Source :business in Cameroon

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