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Bilateral debt: China remains Cameroon's leading lender with an outstanding CFA1, 375 billion

Bilateral debt: China remains Cameroon's leading lender with an outstanding CFA1, 375 billion
  • Comments   -   Friday, 06 October 2017 18:50

(Business in Cameroon) - The autonomous amortization fund in its October 5th memo on Cameroon's economic climate informed that the country's bilateral debt, at the end of June 2017, stood at CFA2,033.2 billion. The fund monitors the country's public debt.

This amount represents a 2.1% quarterly decrease and, a 13.8% decrease on a year-to-year basis. The decrease is mainly due to two countries: China (debt incurred by Cameroon increased by 3% on a quarterly basis and decreased by 14.5% on a year-to-year basis), and France (Cameroon’s debt to France decreased by 1.5% on a quarterly basis and, by 17.4% on a year-to-year basis).

China distinguished its bilateral leadership with a CFA1375.9 billion outstanding amount. It represents 67.7% of Cameroon's total bilateral debt and 34.4% of its external debts,” the autonomous amortization Fund explained.

It also added that France comes second in this regards, with CFA542.9 billion, in part as a result of the debt reduction contract. Cameroon's outstanding debt to France represents 13.6% of the country’s external debts and 26.7% of the bilateral debts.

Sylvain Andzongo

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