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of the oil sector led rapid economic growth between 1970 and 1985. Growth came to an abrupt halt in 1986 precipitated by steep declines in the prices of major exports: coffee, cocoa, and petroleum. Export earnings were cut by almost one-third, and inefficiencies in fiscal management were exposed. In 1990-92, with support from the IMF and World Bank, the government has begun to introduce reforms designed to spur business investment, increase efficiency in agriculture, and recapitalize the nation's banks. Nationwide strikes organized by opposition parties in 1991, however, undermined these efforts. GDP: exchange rate conversion - $11.5 billion, per capita $1,040; real growth rate 0.7% (1990 est.) Inflation rate (consumer prices): 8.6% (FY88) Unemployment rate: 25% (1990 est.) Budget: revenues $1.2 billion; expenditures $1.8 billion, including capital expenditures of $NA million (FY89) Exports: $2.1 billion (f.o.b., 1990 est.) commodities: petroleum products 56%, coffee, cocoa, timber, manufactures partners: EC (particularly France) about 50%, US 10% Imports: $2.1 billion (c.i.f., 1990 est.) commodities: machines and electrical equipment, transport equipment, chemical products, consumer goods partners: France 41%, Germany 9%, US 4% External debt: $4.9 billion (December 1989 est.) Industrial production: growth rate - 6.4% (FY87); accounts for 30% of GDP Electricity: 755,000 kW capacity; 2,940 million kWh produced, 270 kWh per capita (1991) Industries: crude oil products, food processing, light consumer goods, textiles, sawmills Agriculture: the agriculture and forestry sectors provide employment for the majority of the population, contributing nearly 25% to GDP and providing a high degree of self-sufficiency in staple foods; commercial and food crops include coffee, cocoa, timber, cotton, rubber, bananas, oilseed, grains, livestock, root starches Economic aid: US commitments, including Ex-Im (FY70-89), $440 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $4.5 billion; OPEC bilateral aid (1979-89), $29 million; Communist countries (1970-89), $125 million :Cameroon Economy Currency: Communaute Financiere Africaine franc (plural - francs); 1 CFA franc (CFAF) = 100 centimes Exchange rates: Communaute Financiere A
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