Yaoundé - 24 October 2021 -
Public management

CEMAC: Cameroon and Gabon account for close to 50% of regional public securities outstanding as of end-Aug 2021

CEMAC: Cameroon and Gabon account for close to 50% of regional public securities outstanding as of end-Aug 2021
  • Comments   -   Friday, 08 October 2021 14:27

(Business in Cameroon) - As of end-August 2021, CEMAC countries’ outstanding securities on the regional market was XAF4,298 billion, according to issuing institution BEAC. Compared with the XAF4,052.4 billion outstanding as of end-June 2021, this represents an increase by XAF246 billion. 

Close to 50% of that outstanding volume is accounted for by two countries, Gabon and Cameroon namely. As of August 30, 2021, Gabon owed the highest volume of debt in the said market with XAF1,092.7 billion of issued but not yet redeemed securities. Cameroon came second with XAF1,032.3 billion. 

From the BEAC report, it can be noted that the volume of overall public securities issued by CEMAC countries on the regional market between June 2020 and June 2021 rose by XAF1,516.2 billion, from XAF2,36.2 to 4,052.04 billion, due notably to the dynamism of Cameroon and Gabon in the said market. 

The issuing institution does not explain why the two countries are so much attracted by the regional money market. However, we know for a fact that as the economic powerhouses of the CEMAC region, the countries had to enter the regional and international debt market to source funds to first consolidate public finances and pursue the coronavirus response initiatives. They also had to raise funds to revive their economies this year after the destructive impacts sustained in 2020 due to the coronavirus pandemic. 

Brice R. Mbodiam

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