Cameroon has signed an agreement with the IMF for a new three year Poverty Reduction and Growth Facility (PRGF) programme to the amount of US$26.8million. Cameroon's last PRGF arrangement expired in December 2004 and the IMF has been monitoring Cameroon's performance since then under a 'staff-monitored programme'. According to the IMF, Cameroon has made progress in improving economic policies and 'implementation of the program resulted in a substantial fiscal adjustment, especially in non-oil revenue, and improved public financial management and reporting.