| Overview |
Because
of its oil resources and favorable agricultural conditions,
Cameroon has one of the best-endowed primary commodity economies
in sub-Saharan Africa. Still, it faces many of the serious
problems facing other underdeveloped countries, such as a
top-heavy civil service and a generally unfavorable climate
for business enterprise. Since 1990, the government has embarked
on various IMF and World Bank programs designed to spur business
investment, increase efficiency in agriculture, improve trade,
and recapitalize the nation's banks. In June 2000, the government
completed an IMF-sponsored, three-year structural adjustment
program; however, the IMF is pressing for more reforms, including
increased budget transparency, privatization, and poverty
reduction programs. International oil and cocoa prices have
considerable impact on the economy. |
| Industries |
petroleum
production and refining, food processing, light consumer goods,
textiles, lumber |
