How Did Cameroon Loose Its Prosperity?

Cameroon was one of Africa's most prosperous nations for at least twenty five years following independence, in 1960. Cameroon's principal exports were petroleum, cocoa, coffee, and cotton. In the mid 1980s there was a drop in the prices of these commodities. This, along with an overvalued currency, rampant corruption, and economic mismanagement, gave way to a decade-long recession.

From 1986 to 1994, there was a fall in the real per capita GDP by over 60 percent. The current account and fiscal deficits began to widen, and foreign debt kept rising. As is the case with many other developing countries, the economy is under tremendous strain because of rapid urbanisation.
Subsistence agriculture remains Cameroon's single largest economic activity. There are many obstacles slowing down Cameroon's economic growth, which include the onerous levels of bureaucracy, dated and crumbling infrastructure, and ingrained corruption.

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