(Business in Cameroon) - At end April 2019, Cameroon’s publicly guaranteed debt reached XAF7,557 billion or 35.2% of GDP.
According to the debt amortization fund CAA, this represents a 3.3% quarter to quarter rise but, compared to a year to year basis, it is a 15.5% rise.
CAA explains that the country’s debt has increased by more than 37% in less than two years due notably to instalments on the budget support in the framework of the IMF’s economic and financial programme. There is also a structured debt of XAF577 billion (BEAC’s statutory advances), XAF200 billion of funds raised via issuance of treasury bills and acceleration of large infrastructures’ construction.
At end April 2019, the country’s publicly guaranteed debt was constituted of 99.4% of direct public debt evaluated at XAF7,510 billion (about 35% of GDP) and 0.6% of debts approved by the government evaluated at XAF47 billion or 0.2% of GDP.
This year, XAF1,283 billion has been budgeted for debt servicing. This is about 25% of the overall budget estimated at XAF5,212 billion.