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Yaoundé - 21 November 2019 -
Finance

Cameroon needs XAF3,307bln for 2019-21

Cameroon needs XAF3,307bln for 2019-21
  • Comments   -   Wednesday, 24 April 2019 16:05

(Business in Cameroon) - The Cameroonian government needs about XAF3,307 billion, including budget aid of XAF354 billion, to handle the 3-year period from 2019 to 2021. Figures were provided by the national debt committee.

For 2019 alone the country needs XAF1,260 billion, the committee said, and this deficit is expected to be offset through actual mobilization of 74.2% of external debt (XAF935 billion including XAF347 billion as budget support) and 25.8% of internal debt (XAF325 billion). The limit of new external commitments for the 3-year period is set at XAF2,150 billion, including XAF650 million for this year. According to the committee, the limit is set in accordance with constraints imposed by the ongoing economic program with the International Monetary Fund IMF. These require maintaining sustainability of Cameroon’s public debt with a risk of debt distress at most moderate level.

Over the same period, the limit of new internal commitments was XAF1,055 billion, including XAF325 billion for 2019. Government support’s limit is XAF120 billion (XAF40 billion for 2019).

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