Saving and credit cooperatives as a means of community participation in the socio-economic development of people : the Cameroonian experience

Abstract

The economic problems that the world is lacing and which sub-Saharan African countries are experiencing have in no way spared Cameroon. The country's critical situation it, deteriorating at an alarming rite. Indeed, the declining value of exports attributed to the deteriorating terms of trade has created a balance-of-payments deficit while external and domestic debts have attracted an unbearable ratio of debt servicing. The well-known inadequacy of private and direct investment flows has resulted m a significant reduction in the volume of transactions.