Recent News, Events and Developments in Cameroon
Cameroon and Nigeria fought in 1994 and 1996 over the oil-rich Bakassi peninsula over which Cameroon ultimately secured sovereignty through an international court ruling. However in November 2007 Nigeria declared the Cameroon possession of the Bakassi peninsula as illegal.
In other recent developments Cameroon is facing internal strife owing to the secessionist Southern Cameroon National Council (SCNC) that emerged in the 1990?s but has been banned. In 1986 2,00 people died owing to the leak of poisonous gases that escaped from Lake Nyos.
Recent political events in Cameroon in 2008 saw the passage of a controversial constitutional amendment that enabled President Paul Biya to run for an unprecedented third term of office in 2011. Biya has been ruling Cameroon since 1982 already. This resulted in large-scale dissent among the opposition.
Owing to its principal exports of petroleum, cocoa, coffee and cotton, Cameroon was the most prosperous African country for over a quarter-century following independence. However the mid-1980?s saw a crippling decade-long recession. The Enhanced Structural Adjustment Facility (ESAF) signed recently with the IMF calls for greater macroeconomic planning, financial accountability and privatization to boost Cameroon?s economy.
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