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Yaoundé - 09 July 2020 -
Finance

Cameroon cleared off XAF700 bln in debt in 2018

Cameroon cleared off XAF700 bln in debt in 2018
  • Comments   -   Wednesday, 12 June 2019 19:32

(Business in Cameroon) - At end-FY2018, Cameroon’s unpaid arrears amounted to about XAF55 billion, the budget execution reports showed. The sum is split into XAF20.9 billion for goods & services, XAF30.2 billion for capital expenditures, XAF2.3 billion for transfers & subsidies, and XAF1.8 billion for other costs.

The government explained that to clear the previous years’ arrears that were valued at XAF755.9 billion at the beginning of the year, it paid XAF360.7 billion in cash and by transfer. Monies went to goods and services (XAF123.4 billion), capital expenditure (XAF207.5 billion), transfers and subsidies (XAF21.1 billion) and other costs (XAF8.7 billion).

Another XAF340.2 billion was spent to cancel provisional commitments for non-serviced expenditure. This covered XAF58.1 billion for goods and services, XAF203 billion for capital expenditures, XAF35.6 billion for transfers and subsidies and XAF43.5 billion for other costs.

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