(Business in Cameroon) - Cameroon is still exposed to a “high risk of over- indebtedness”, the International Monetary Fund (IMF) indicated in a report published August 30. The Bretton Woods institution said the country's debt increased by 5% of GDP since 2016.

Under the economic program with the Fund, ongoing since June 2017, “Cameroon's public debt would peak at 38.7% of GDP this year [2018], before gradually decreasing to around 33.6% of GDP by 2023”, the report stated. A new non-concessional debt contracted by the government amounts to 63% of the annual limit over the period January-May 2018. But authorities said they are committed to comply with the non-concessional debt limit, as they had already selected priority projects in key sectors (infrastructure, energy, construction, etc.) for the 2018 debt plan. Let’s mention that IMF and Cameroon agreed to increase the concessional debt limit by CFA90 billion this year.

S.A