The International Monetary Fund's executive board on Monday approved a $666 million, three-year extended credit facility for Cameroon to support economic and financial reforms, an IMF statement said. The nations of central Africa's CEMAC currency union have struggled in the face of low oil prices, which have slashed state revenues. Cameroon has also been forced to concentrate resources on combating the threat of Islamist Boko Haram militants along its northwestern border with Nigeria.
Concerns about situations involving Greece, Italy and the European Central Bank kept the euro under pressure on Tuesday. European geopolitical fears sapped risk appetite, weighing on Asian stocks and lifting safe havens including the yen and gold, though trading was thin with several markets closed for holidays.