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Saturday, August 25, 2018

The new IMF representative in Cameroon, Fabien Nsengiyumva takes office on 1st September 2018

Originally from Rwanda and of US nationality, the new resident representative of the International Monetary Fund (IMF) in Cameroon replaces Congolese (DRC) Kadima Kalonji, who joins the institution's headquarters in Washington, DC, in the United States.

Cameroon is not quite an unknown land for Fabien Nsengiyumva, since he stayed there between 2010 and 2012 as a senior economist. Six years later, he will now be in charge of the financial institution in Cameroon. The newly promoted has all the necessary assets, he who deals with economic issues for four decades.

Fabien Nsengiyumva comes to head the IMF's representation in Cameroon at the moment when this international financial institution is conducting a three-year economic and financial program (2017-2019), accompanied by an Extended Credit Facility (ECF) in the amount of nearly 400 billion FCFA.

The new IMF Resident Representative in Cameroon was received by the Minister of Finance (Minfi), Louis Paul Motaze, on June 12 for a courtesy call before taking office. Fabien Nsengiyumva's discussions focused on issues related to the assignments assigned to him. A mission that focuses on monitoring the program of the institution in Cameroon, maintaining good relations that the country has with the Monetary Fund.

The visit came following an IMF delegation mission to Cameroon from 27 April to 14 May 2018. The mission had conducted talks with government authorities which resulted in the conclusion of an agreement regarding economic and financial policy measures, which could lead to the approval of the second review of the Three-Year Program under the Extended Credit Facility.