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Yaoundé - 06 July 2020 -
Finance

Cameroon records success at its first 2020 fungible bills issuance with a 2.1% average interest rate

Cameroon records success at its first 2020 fungible bills issuance with a 2.1% average interest rate
  • Comments   -   Monday, 13 January 2020 13:09

(Business in Cameroon) - The Cameroonian Treasury succeeded in raising a total of XAF20 billion on the BEAC debt market at the end of a 26-week fungible treasury bills auction session organized on January 8, 2020.

According to the press release issued by the BEAC, this issuance was oversubscribed, with investors having offered up to XAF41 billion to the Cameroonian government. However, the country settled for half of the envelope, as initially planned.

This interest in Cameroonian government securities contributed to a slight decrease in the interest rates demanded by investors. According to the Central Bank's summary, the XAF20 billion raised by Cameroon on January 8, 2020, was at an average rate of 2.1%, against 2.3 to 2.5% in recent months.

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