For a quarter-century following independence, Cameroon was one of the most prosperous countries in Africa. The drop in commodity prices for its principal exports —petroleum, cocoa, coffee, and cotton — in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened, and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions, Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa.

This is a chart of trend of gross domestic product of Cameroon at market prices estimated by the International Monetary Fund with figures in millions of Central African CFA Francs.

The government embarked upon a series of economic reform programs supported by the World Bank and International Monetary Fund (IMF) beginning in the late 1980s. Many of these measures have been painful; the government slashed civil service salaries by 65% in 1993. The CFA franc — the common currency of Cameroon and 13 other African states — was devalued by 50% in January 1994. The government failed to meet the conditions of the first four IMF programs.

Cameroon, officially the Republic of Cameroon (French: République du Cameroun), is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the Bight of Bonny, part of the Gulf of Guinea and the Atlantic Ocean. The country is called "Africa in miniature" for its geological and cultural diversity. Natural features include beaches, deserts, mountains, rainforests, and savannas. The highest point is Mount Cameroon in the southwest, and the largest cities are Douala, Yaoundé, and Garoua. Cameroon is home to over 200 different linguistic groups. The country is well known for its native styles of music, particularly makossa and bikutsi, and for its successful national football team. French and English are the official languages.

Early inhabitants of the territory included the Sao civilisation around Lake Chad and the Baka hunter-gatherers in the southeastern rainforest. Portuguese explorers reached the coast in the 15th century and named the area Rio dos Camarões ("River of Prawns"), the name from which Cameroon derives. Fulani soldiers founded the Adamawa Emirate in the north in the 19th century, and various ethnic groups of the west and northwest established powerful chiefdoms and fondoms. Cameroon became a German colony in 1884.