Livelihood Strategies in African Cities: The Case of Residents in Bamenda, Cameroon
This paper analyses the livelihood strategies of residents in the city of Bamenda, Cameroon. It argues that the informal economy is not the preserve of the poor. Middle income households also play a crucial role. Informal economic activities permit the middle class to diversify their sources of income as well as accumulate capital. It examines the role of class in the informal economy and analyses the impact of policy on those involved in informal economic activities. The paper reveals that formality, informality and policy are intertwined, thus making livelihood strategies in cities complex.
Time for the lion to wake up? An economic update on Cameroon with a focus on telecoms
This Cameroon economic update, the World Bank is launching a program of short, crisp and more frequent country economic reports. These economic updates will analyze the trends and constraints in Cameroon's economic development. Each issue, produced bi-annually, will provide an update of recent economic developments as well as a special focus on a selected topical issue. The economic updates aim to share knowledge and stimulate debate among those interested in improving the economic management of Cameroon and unleashing its enormous potential. The notes thereby offer another voice on economic issues in Cameroon, and an additional platform for engagement, learning and change. The report's special focus on the telecommunication sector. Cameroon has been hit by the global economic and financial crisis over the past two years, as reflected in steep declines in the price and demand for its export commodities including oil, timber, rubber, cotton and aluminum. However, the upturn in the global economy and measures taken by the authorities to stimulate domestic production, preliminary indications suggest that economic activity is recovering. Gross domestic product (GDP) growth in 2010 is estimated to have reached 3 percent on the back of stronger non-oil activities, which expanded by about 4 percent (particularly food crops, forestry, construction, transport, and telecoms). Data on private credit growth corroborate this assessment. Cameroon is a relatively small and mature oil producer, where oil production is declining. Depleting reserves, aging equipment, and more recently postponements of some development projects and investments because of the financial crisis explain this profile. The contribution of this sector to GDP growth has been mostly negative in recent years: oil production is estimated to have contracted by a further 16 percent in 2010 (to 23.2 million barrels).
Fiscal Transparency in EU Accession Countries Progress and Future Challenges
This paper discusses the findings of fiscal transparency reports on standards and codes (ROSCs) for most EU accession candidate countries. Emphasis is given to the need to establish effective and accountable medium-term budget frameworks to establish policy credibility and anchor adjustment programs to meet EU fiscal goals. Adoption of budgeting and accounting standards consistent with the IMF Government Finance Statistics Manual 2001 framework will also help link budget decisions to EU standards of fiscal reporting. More consistent and comprehensive coverage of off-budget activities is needed for assessing fiscal risk and sustainability. Finally, local government issues need to be addressed by many of these countries since EU fiscal goals are set with reference to general government. Progress in all of these areas can be monitored by keeping fiscal ROSC assessments up to date.