Yaoundé - 02 October 2023 -

Cameroon takes on more debt to repay outstanding loans on the Beac securities market

Cameroon takes on more debt to repay outstanding loans on the Beac securities market
  • Comments   -   Friday, 08 September 2023 17:45

(Business in Cameroon) - Cameroon made, during the week of August 28 to September 1, two repayments totaling CFA34.5 billion on the Beac securities market.

According to information made public by the Treasury, the money was used to repay two loans obtained through the issue of fungible Treasury bills (BTA) made 13 and 26 weeks earlier, for amounts of CFA15 billion and CFA19.5 billion, respectively.

To meet its commitments, Cameroon had to borrow more money by issuing three additional BTAs, raising a total of CFA70 billion. This included two 26-week BTAs, with the country seeking to secure CFA50 billion, and a 13-week BTA for CFA20 billion.

However, Cameroon was only able to raise CFA41.9 billion. Yet, the country managed to cover its repayments and also provided additional liquidity to the state. Given the increasingly challenging market conditions, these funds were all raised at interest rates exceeding 5%.

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