Cameroonians have been confronted with a gasoline value rise on Wednesday of about 15 p.c, that means a litre of diesel that used to value them 575 CFA francs (0.87 euros), will now go as much as 720 CFA francs (1.09 euros).
The rise got here after the Worldwide Financial Fund (IMF) had put strain on the federal government to chop its gasoline subsidy.
However there can be a 5.2 p.c wage rise for civil service staff to assist soften the blow, the prime minister’s workplace acknowledged.
“They acknowledged the necessity to scale back the expensive gasoline subsidies, that are unsustainable below the present worldwide oil value projections and are poorly focused to these in want and crowd out precedence spending,” the IMF, referring to the federal government, stated in a information launch on Tuesday.
“The gasoline subsidies symbolize six occasions the funds allotted to agriculture, 4 occasions that to well being, and over 3 times that to vitality and water. Gas subsidy reform would must be accompanied by measures to mitigate the impression on probably the most weak, together with money transfers,” it added.
In March the IMF is scheduled to provide 68.5 million euros in credit score to the federal government.
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