Background
Poverty Reduction Strategy Papers (PRSP) describe a country's macroeconomic, structural and social policies and programs to promote growth and reduce poverty, as well as associated external financing needs. PRSPs are prepared by governments through a participatory process that involves civil society and development partners, including the World Bank and the International Monetary Fund (IMF).
Poverty Reduction Strategy Papers provide the basis for World Bank and IMF assistance as well as debt relief under the HIPC (Heavily Indebted Poor Countries) initiative. PRSPs should be country-driven, comprehensive, partnership-oriented, and participatory. A country only needs to write a PRSP every three years; however, changes can be made to the content of a PRSP using an Annual Progress Report. For more information about Poverty Reduction Strategy Papers, visit the World Bank Povertynet website.
PRSP for Cameroon, 2003
The Poverty Reduction Strategy Paper (PRSP), prepared by the Government of Cameroon in 2003, builds on the strategy laid out in the interim Poverty Reduction Strategy Paper (I-PRSP) presented to the Boards of the International Development Association (IDA) and the International Monetary Fund (IMF). The document is the result of participatory consultations at all stages of its development. The PRSP describes these consultations, profiles the nature of poverty in Cameroon, presents the government’s objectives for reducing poverty over the next three years and outlines the monitoring that will take place to measure effectiveness.
The chief objective of the Cameroon PRSP is to reduce poverty. The document identifies seven medium-term strategies the Government has set to achieve poverty reduction:
- Promote a stable macroeconomic framework
- Strengthen growth by diversifying the economy
- Revitalize the private sector as the main engine of growth;
- Develop basic infrastructures and natural resources;
- Accelerate regional integration in the framework of CEMAC;
- Strengthen human resources and the social sector and facilitate the integration of vulnerable groups into the economy
- Improve the institutional framework, administrative management, and governance.
For the most current version of the Cameroon PRSP and related documents, please refer to the Povertynet website.
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