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Yaoundé - 18 June 2019 -
Economy

Cameroon: Government clears XAF1040bln of XAF1056-bln domestic debt in 2018

Cameroon: Government clears XAF1040bln of XAF1056-bln domestic debt in 2018
  • Comments   -   Thursday, 03 January 2019 14:00

(Business in Cameroon) - Cameroonian finance ministry (Minfi) announced government made significant efforts toward debt reduction in 2018. According to information released, the ceiling for concessional and non-concessional loans, set at XAF650 billion for 2017 and 2018, was complied with. As well, of the XFA1056-billion domestic debt in 2018, government cleared up to XAF1040 billion. “All these performances provide sufficient information on Cameroon's debt sustainability, both external and domestic,”  Minfi said.

Let’s however note that the national inter-employers’ group (Gicam) provides different figures. The group estimated domestic debt at XAF1559 billion as at 31 March 2018. But the Ministry of Finance nevertheless hailed the government for honoring external debt repayment’s commitments in 2018. Initially committed to pay XAF727 billion, government actually paid XAF761 billion, XAF34 billion more than expectation.

Sylvain Andzongo

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