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Cameroon: CFA560 billion needed to pay domestic debts in 2018

Cameroon: CFA560 billion needed to pay domestic debts in 2018
  • Comments   -   Thursday, 11 January 2018 09:42

(Business in Cameroon) - Cameroon needs CFA560 billion to pay domestic debts during the 2018 fiscal year, according to figures from the autonomous amortization fund (Caisse Autonome d’Amortissement- CAA), the country’s debt management fund.

During his new year’s address on December 31, 2017, Paul Biya, Cameroon’s president has promised to do his best to pay this debt, owed mainly to SMEs.

To do so, the country needs to raise the needed funds by collecting a maximum of tax and customs revenue, the president has explained.  

Besides, to pay the debt, the CAA does not exclude the possibility for the government to request bank loans or issue a new bond.

BRM 

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