IMF, World Bank Recommend Consistent Budgeting

The Mario de Zamaroczy-led team held talks with House Speaker on November 21.

"We always have recommendations when it comes to the budget. This is our core interest and we like light budgets that are consistent, transparent, well-organized and those that are always built on realistic projections both for revenue and expenditure. We always ask how the budget will be financed in the case where there is a shortfall in revenue."

Mario de Zamaroczy, International Monetary Fund (IMF) team leader on a working visit to Cameroon after meeting with National Assembly Speaker, Hon. Cavaye Yeguie Djibril, made the remark yesterday, November 21, 2013 in Yaounde.

He told reporters after discussions that the joint IMF/ World Bank team was on a brief working visit to Cameroon to review the political and economic development of the country as per the last visit in May this year. But the interest with House Speaker was the 2014 State budget that is expected in Parliament anytime from now, he said.

"We discussed the general framework underlining this budget and reviewed various components," Zamaroczy said. He revealed that the team has noticed some interest in development and that Parliament is playing an important role in overseeing the implementation of the budget by asking the right questions and making the right recommendations. "We will be very interested in the final version adopted by Parliament," he added.

Customarily, the joint IMF/World Bank team visits the country twice a year, in spring when it has a larger and longer mission to review economic development, look at future development and challenges. This working visit is smaller in scale and shorter as the team is particularly interested in the execution of the 2013 State budget.