Cameroon expects its economy to rebound this year, with the growth rate coming close to pre-pandemic levels, Bloomberg reported. The government sees output expanding 3.4% in 2021, compared with 0.7% last year, Cameroonian Economy Minister Alamine Ousmane Mey said. The central African economy grew 3.7% in 2019. As part of its 2030 strategy, Cameroon is focused on “the structural transformation of its economy toward industrialization, more integration, and growth that is more inclusive, sustainable and green,” he said.
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Moody’s has clashed with the UN after putting five countries on review for a downgrade in recent weeks, saying that a G20-backed debt suspension scheme poses risks to private creditors, the Financial Times reported. The rating agency took action against Ethiopia, Pakistan, Cameroon, Senegal and the Ivory Coast, after the countries opted into a G20-backed initiative that allows them to freeze official bilateral debt repayments due this year to member nations and members of the Paris Club, a group representing major credit countries.