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Cameroon’s government signed 12 loan agreements worth CFA1, 048.6 billion

Cameroon’s government signed 12 loan agreements worth CFA1, 048.6 billion
  • Comments   -   Saturday, 14 October 2017 02:50

(Business in Cameroon) - The national amortization fund, in charge the management of Cameroon’s public debt, said that in the second quarter of 2017, Cameroon signed 12 loan agreements worth CFA1,048.6 billion.

According to the fund, with those loan agreements, Cameroon’s external debt reached CFA1, 382.3 billion, apart from IMF’s Extended Credit Facility (around CFA400 billion). Moreover, the projected cap of new external loans for the rest of the year is CFA200 billion of which CFA100 billion are non-concessionary loans.

As far as loan repayments are concerned, during the second semester of 2017, Cameroon repaid CFA239.1 billion, of which CFA168.9 billion to international lenders. External loan repayments are divided as follow: 78.3% of the payments to bilateral lenders (out of which 90% are Chinese), 19.4% to multilateral lenders and 2.3% to commercial lenders. Internal loans were repaid as follows: 64.1% as public securities, 20.7% as statutory advances and 15.2% as direct loans from banks.

 Sylvain Andzongo

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