IMF approves new loan for Cameroon despite corruption claim

IMF logo

The seal of the International Monetary Fund (IMF) in Washington, DC on April 15, 2020. PHOTO | AFP

The International Monetary Fund (IMF) has approved a three-year financing arrangement worth nearly $700 million with Cameroon, despite calls to halt the disbursement over misuse of funds.

The aid is to help the central African country recover from effects of the Covid-19 pandemic and pursue reforms.