Starting from the mid 1980"s, Cameroon, like most Sub-Saharan African countries, has been shaken by the most important economic crisis of its history as an independent country. To fight this crisis, the government of Cameroon engaged itself in a structural adjustment policy with the support of international financial institutions since the fiscal year 1988/1989. One of the most spectacular measures of the structural adjustment policy has certainly been the devaluation of the CFA Franc, a currency shared by 13 French speaking countries of Africa. Structural adjustment policy in general and especially currency devaluation have raised controversial view points about their efficiency and their impact on forest resources management in particular. A good number of authors argue that devaluation encourages non sustainable management practices on forest resources, while others think that by improving the whole economy, structural adjustment measures should have positive effects on the management of forest resources. A study was conducted in Cameroon of which one of the objectives was to analyse new development in the logging industry of Cameroon. It shows that logging has indeed become more attractive as a business since the devaluation of the CFA Franc, although the tendency existed since the beginning of the whole economic crisis. From 1994, the number of logging enterprises increased by more than 80%. Similarly, log productions increased by 34% and log exports by about 80%. Concerning the new areas opened for logging, the size of logging rights also increased even if there was no sufficient evidence to link that increase with devaluation. However, logging intensity remains low. It is likely that the devaluation has augmented the pressure on forest resources through industrial logging. However, Cameroon has also implemented others changes in its forest policy and effects of these changes are not easy to separate from the effects of devaluation.