Politcal Outlook in Cameroon is Stable
Transnational Automotive Group (OTCBB: TAMG)
Transnational Automotive Group, Inc. (TAMG) undertakes to provide bus Service between the Capital City of Yaounde and the business center of Douala in Cameroon.
On April 5, 2006 PTIC signed a Memorandum of Understanding (MOU) with the Zonda Industrial Group of China for the provision of buses, bus parts, vehicle assembly and sales in Africa, international promotion and sales of Zonda vehicles and automotive technical cooperation.
Cameroon re-elected the 72-year-old president, Paul Biya, in October 2004. His re-election represents the domination of the ruling party, Rassemblement democratique du peuple camerounais (RDPC).
The IMF (International Monetary Fund) has granted Cameroon a new three-year poverty reduction and growth facility (PRGF), which started retrospectively in July 2005. As part of the PRGF, the government is able to engage in structural reforms, in particular the stalled privatisation of state enterprises, as well as measures to open up sectors of the non-oil economy to the private sector.
On May 1, 2006, the IMF and World Bank announced that Cameroon had reached completion point under the heavily indebted poor countries (HIPC) debt-relief initiative. This secured Cameroon total estimated debt relief of US$1.267bn in 1999 in net present value terms, of which US$879m is to come from official bilateral creditors. In light of the debt relief granted at HIPC completion point, the Economist Intelligence Unit has revised down its estimate of total external debt, to US$6.9bn in 2006 (previously US$9.3bn) and US$6.9bn (previously US$9.4bn) in 2007.
A stable Cameroon means Transnational is in a perfect position to do what it does best: meet transportation needs.
Source:
Publication title: EIU ViewsWire. New York: May 22, 2006. pg. n/a
Source type: Wire feed
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