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Finance

Cameroon’s money stock grew to XAF4,545.9bn in September 2018

Cameroon’s money stock grew to XAF4,545.9bn in September 2018
  • Comments   -   Monday, 10 December 2018 16:44

(Business in Cameroon) - At end-September 2018, Cameroon’s money supply increased 7.1% year-on-year, to XAF4,545.9 billion, against XAF4,244.4 billion in September 2017, the national monetary and financial committee (CMFN) announced.

As regards to net foreign assets, CMFN said they grew by 3.8% to XAF1,821.5 billion against XAF1,754.2 billion a year earlier. Net reserve in the operation's account also improved by 18.2% over the period.

However, the Monetary Committee points out, the country's foreign currency hedging rate dropped from 76.4% to 72.2% over the same period. Meanwhile, domestic credit rose 10.5% from XAF3,225.9 billion in September 2017 to XAF3,564.2 billion in September 2018, motivated by the rise in credits to the economy and net claims on the State.

Sylvain Andzongo

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