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Yaoundé - 30 November 2021 -
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Cameroon raises XAF40.5 bln within a week on the BEAC public securities market

Cameroon raises XAF40.5 bln within a week on the BEAC public securities market
  • Comments   -   Thursday, 04 November 2021 10:56

(Business in Cameroon) - Between October 27 and November 3, 2021, the Cameroonian public treasury raised XAF40.5 billion on the public securities market of the Bank of Central African States (BEAC). To capture those funds, the country issued both short and long-term securities. 

According to information provided by the BEAC, on November 3, the country issued 52-week treasury bills raising XAF10 billion to call securities that matured on the same market. The October 27 operation involved 3-year bonds. The country was seeking XAF40 billion but it effectively raised XAF30.5 billion for development projects. 

Although these fundings help Cameroon address its liquidity needs and implement infrastructure projects, they increase indebtedness, which is gradually becoming a concern for international backers. According to them, at the rate at which Cameroon is loaning funds, it could enter the category of heavily indebted countries.

As of September 30, 2021, the public debt was XAF11,109 billion, representing 42.5% of GDP, according to the national sinking fund CAA. At the time, that debt was up by 3.3% quarter to quarter and 8% year on year. 

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