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Yaoundé - 24 September 2018 -
Economy

CAA explains the reason why IMF’s estimates on Cameroon’s debt is different from its own

CAA explains the reason why IMF’s estimates on Cameroon’s debt is different from its own
  • Comments   -   Friday, 06 July 2018 15:31

(Business in Cameroon) - In a note published on July 5, 2018, Richard Evina Obam (photo), director of Cameroon’s debt amortization fund Caisse autonome d’amortissement (CAA), revealed that the country's debt estimated at CFA6,527 billion by May 31, 2018, equal 32% of the country’s GDP. However, according to IMF’s estimates, Cameroon’s debt equals 35% of GDP.

To explain the reason why the fund’s estimate is different from the one published by IMF, Richard Eyina Obam stated that apart from the public debt published by CAA, IMF integrated more than three months’ remaining dues and  SONARA’s payables (more than CFA1,800 billion).

The official adds that the country is striving to definitely contain the increase in the public debt. In addition, should the country’s debt represent 35% of GDP, it is still largely below the threshold within CEMAC which is 70%, he said.

Sylvain Andzongo

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