Cameroon Currency
Cameroon (01/05)
The government embarked upon a series of economic reform programs supported by the World Bank and International Monetary Fund (IMF) beginning in the late 1980s. Many of these measures have been painful; the government slashed civil service salaries by 65% in 1993. The CFA franc--the common currency of Cameroon and 13 other African states--was devalued by 50% in January 1994. The government failed to meet the conditions of the first four IMF programs. ... Information on travel conditions, visa requirements, currency and customs regulations, legal holidays, and other items of interest to travelers also may be obtained before your departure from a country's embassy and/or consulates in the U.S. (for this country, see "Principal Government Officials" listing in this publication). ... [Read More]
Cameroon
Cash in local currency, the Central African franc (CFA) is the only form of payment accepted throughout the country. Larger hotels in Yaoundé and Douala will change U.S. dollars and cash traveler's checks, though at a disadvantageous rate. Credit card cash advances are not available, and most banks do not cash personal or traveler's checks for non-clients. While credit cards are accepted at some larger hotels and shops in Yaoundé and Douala, caution is urged, as identity theft is endemic in the region. Some larger banks in Yaoundé and Douala have ATM facilities, and several banks in Cameroon have wire transfer services through Western Union. The U.S. Embassy does not provide currency exchange, check cashing or other financial services. Tourists and business t ... [Read More]
US Department Of State Post Report
Cameroon’s currency is the CFA (Communaute Financiere Africaine) Franc. The CFA is linked directly to the Euro and is thus a fairly convertible currency. As a result there is no problem with artificial exchange rates in Cameroon. ... No limitations exist on travelers checks, dollars, or other currency you bring or import after arriving. Dollars and other currencies are exchanged freely. The Cameroonian Government does not prevent export of currency previously declared or of amounts normally carried for travel expenses. Exportation of CFA Francs beyond moderate limits requires the permission of the Ministry of Finance. ... [Read More]
Equatorial Guinea (06/05)
Information on travel conditions, visa requirements, currency and customs regulations, legal holidays, and other items of interest to travelers also may be obtained before your departure from a country's embassy and/or consulates in the U.S. (for this country, see "Principal Government Officials" listing in this publication). ... The U.S. Department of State's Consular Information Program provides Consular Information Sheets, Travel Warnings, and Public Announcements. Consular Information Sheets exist for all countries and include information on entry requirements, currency regulations, health conditions, areas of instability, crime and security, political disturbances, and the addresses of the U.S. posts in the country. Travel Warnings are issued when the State Department recommends that Americans avoid travel to a certain country. Public Announcements are issued as a means to disseminate information quickly about terrorist threats and other relatively short-term conditions overseas that pose significant risks to the security of American travelers. Free copies of this information are available by calling the Bureau of Consular Affairs at 202-647-5225 or via the fax-on-demand system: 202-647-3000. Consular Information Sheets and Travel Warnings also are available on the Consular Affairs Int ... [Read More]
USIS, Economic Perspectives, August 1999 - Promoting Trade and Investment in Africa, African Organizations
The CFA franc zone comprises 12 West and Central African countries that formerly were French overseas territories, one former Portuguese territory, and one former Spanish possession, all of which share the CFA franc as their common currency. Established in 1948, the CFA franc is linked to the French Treasury, an arrangement that has offered monetary stability and a convertible currency linked to the French franc. CFA stands for Communaute financiere africaine -- African Financial Community. ... [Read More]
United States Libraries in South Africa: Topics--Economic Affairs
GAO notes that Treasury has not found currency manipulation under the terms of the 1988 Trade Act since it last cited China in 1994. Treasury officials make a positive finding of currency manipulation only when all the conditions in the Trade Act are satisfied -- when an economy has a material global current account surplus and a significant bilateral trade surplus with the United States, and is manipulating its currency with the intent to gain an unfair trade advantage. Treasury said that in its 2003 and 2004 assessments, China did not meet the criteria for manipulation, in part because it did not have a material global current account surplus and had maintained a fixed exchange rate regime through different economic conditions. Japan did not meet the criteria in 2003 and 2004 in part because its exchange rate interventions were considered to be part of a macroeconomic policy to combat deflation. ... [Read More]
Equatorial Guinea
CURRENCY RESTRICTIONS: The Government of Equatorial Guinea has established stringent currency restrictions. Visitors for business or tourism must declare any currency in excess of 50,000 Central African francs (CFA) (approximately $90) upon arrival. Although this requirement is not clearly posted, travelers who fail to disclose their excess currency risk the forfeiture of any amount over the CFA 50,000 limit upon departure. They may also be frisked and have their bags searched to ascertain whether they are attempting to take excess currency out of the country. ... [Read More]
Tips for Travelers to Sub Saharan Africa
March 2001 Foreword Your trip to Africa will be an adventure off the beaten path. Conditions and customs in sub-Saharan Africa can contrast sharply with those in the United States. These pages contain advice to help you avoid inconvenience and difficulties. Take our advice seriously but don’t let it keep you at home. Most Americans have unforgettable experiences in Africa. We are often welcomed and helped by Africans who are happy to share not just their scenery, but their culture and tradition ... [Read More]
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