branch office(s): Douala
Flag description:
three equal vertical bands of green (hoist side), red, and yellow, with a yellow five-pointed star centered in the red band
note: uses the popular pan-African colors of Ethiopia
Economy ::Cameroon
Economy - overview:
Because of its modest 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 stagnating per capita income, a relatively inequitable distribution of income, a top-heavy civil service, and a generally unfavorable climate for business enterprise. International oil and cocoa prices have a significant impact on the economy. 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. The IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs.
GDP (purchasing power parity):
$42.69 billion (2008 est.) country comparison to the world: 94 $41.33 billion (2007 est.)
$39.93 billion (2006 est.)