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Beac: Cameroon Expected to Refund 10 Billion Debt on November 4th 2022

Beac
BEAC

This amount is intended to settle a loan issued in the form of assailable Treasury bills by the Cameroonian Treasury 52 weeks ago, and whose maturity is scheduled for November 4.

 

The Bank of Central African States (Beac) published at the beginning of the week, the weekly dashboard of operations of the Cemac treasury market. For the week of October 31 to November 4, 2022, the Cameroonian Treasury will proceed with the repayment of a debt contracted on the said market 52 weeks ago in the form of assimilable Treasury bills (BTA), and whose maturity is scheduled for November 4, 2022.

In total, the country intends to repay 10 billion CFA francs. The country’s last operation on the public securities market dates from 31 October 2022. It was also an issue under auction of a similar envelope of 10 billion CFA francs in 52-week BTAs.

The respect of payment deadlines is one of the trademarks of the Cameroonian public treasury which maintains the confidence of investors in its securities. In order to ensure the repayment of its loans on this market, Cameroon has adopted a well-known provisioning mechanism.

For each loan, Beac opens an amortisation account in its books. Every 15th of the month, when tax revenues peak, it withdraws an amount from the Treasury’s single account and transfers it to the amortisation account. At each repayment date, it debits the amortisation account to credit the account(s) of the investors who subscribed to this loan.



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