(Business in Cameroon) - On May 14, 2018, during the review of the ECF-supported arrangement with IMF, Corinne Delechat, head of the mission stated that Cameroon’s debt was more than 35% of the GDP.
Indeed, in June 2017 when Cameroon signed the arrangement with IMF, its debt ratio was 30% and till January 2018, the ministry of finance indicated that the public debt was CFA6.156 billion,which is 30% of GDP. Between January and May, this month when IMF was conducting its review, the debt ratio evolved by 5%. This means that it rose by 1% approximately each month.
She then concluded that the state needs to consolidate its budget and ensure a “better prioritization of the debt ratio” because via the ECF-supported arrangement IMF is trying to curb this rise and keep it at acceptable standards.