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In 2nd quarter 2017, Cameroon will raise between FCfa 60 and 70 billion on BEAC public securities market

In 2nd quarter 2017, Cameroon will raise between FCfa 60 and 70 billion on BEAC public securities market
  • Comments   -   Sunday, 16 April 2017 17:13

(Business in Cameroon) - Between the months of April and June 2017, the Cameroonian Public Treasury plans to raise an overall envelope of around FCfa 60 and 70 billion through the issuance of public securities in the market of the Bank of Central African States (BEAC).

According to the official timetable of operations provided to BEAC by the Ministry of Finance, nine issuances of Treasury Bills (BTA) are planned, every three months, for a total amount of FCfa 45 billion. Two issuances of state bonds (Obligations du Trésor assimilables - OTA) for amounts respectively between FCfa 5 and 10 billion, then FCfa 10 and 15 billion are also expected in May and June 2017, with corresponding maturity dates of 2 and 3 years.

The first Cameroonian government operation in the BEAC securities market for the 2nd quarter 2017, took place last April 12, through the issuance of Treasury Bills for an amount of FCfa 5 billion, with a 26-week maturity term. For the month of April alone, the Cameroonian Public Treasury aims to raise FCfa 15 billion.

According to a decree signed last 1 February, presidential text which authorises the Minister of Finances to proceed with operations to raise funds for the State of Cameroon, the government intends to issue public securities for a maximum amount of FCfa 300 billion during the 2017 fiscal period.

Launched in 2011, the public securities market of the BEAC has already enabled 6 CEMAC member-States (Cameroon, Congo, Gabon, Chad, CAR, and Equatorial Guinea) to raise almost FCfa 4,000 billion, according to statistics compiled by this central bank. Up until last January, only five states were operating in this market, as Congo only carried out its first operation in February 2017.

Brice R. Mbodiam

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