(Business in Cameroon) - The outstanding public debt of Cameroon reached FCfa 4,502 billion during the first quarter 2016, which represents 26.8% of the GDP of the country, announced the Autonomous Amortisation Fund (CAA), the public organisation in charge of managing public borrowing.

Out of this global outstanding of the public Cameroonian debt, we learn, 77.3%, about FCfa 3,480 billion, represent the external debt, against 22.7% of internal debt, approximately FCfa 1,023 billion in absolute value. On this last point, CAA points out that compared to the period of reference last year, the Cameroonian State has reduced its internal debt by 5%, which thus moved from 27.9% of GDP at end March 2015 to 22.7% during the first quarter of 2016.

With an indebtedness peaking at only 26.8%, Cameroon therefore has a sustainable debt, according to the current standard of the Cemac, which authorises an indebtedness equivalent to up to 70% of GDP.

Despite this situation, Cameroon has been subjected to criticism from the Bretton Woods institution for some months. While the IMF denounces a quick indebtedness of the country (after the 2006 PPTE initiative), mostly at non concessional interest rates; the World Bank, in a report dated April 2016, already listed Cameroon among sub-Sahara African countries showing a high risk of over-indebtedness.

Brice R. Mbodiam