Business › Finances

Cameroon Among Most Indebted Countries in Africa

Debts
Cameroon heavily indebted

A debt accumulated according to this report with China, the International Monetary Fund and the World Bank. Cameroon is ranked 7th in this ranking, with a debt of 5.5 billion dollars, according to the World Bank.

 

In this report, the country is ranked 7th on the continent. Its debt amounts to 5.5 billion dollars. Cameroon is followed by Nigeria (4.8 billion dollars), Ghana (3.5 billion dollars) and DR-Congo (3.4 billion dollars).

This data comes as the ”Caisse Autonome d’Amortissement”(CAA) recently indicated that the public debt is increasing by 0.3%.The explanation for this slight inflation of the public debt can be summed up in three things.

It is the result of (I) the disbursement of budgetary support linked to the new economic and financial programme with the International Monetary Fund (IMF) and the World Bank (II), the effectiveness of the new debt agreements and the issuance of public securities (III). Composed of external debt (71.9%), domestic debt (28.1%) and debt of public enterprises and establishments (8.1%), the public debt represents 42.5% of the Gross Domestic Product (GDP),” the CCA said.

The said debt, according to the CCA, is mainly held by China (61.8%), France (28.5%), the World Bank (37.6%), the African Development Bank (27.6%) and the IMF (20.9%), for an amount of FCFA 6,355 billion in external debt.

Consequently, the amount of securities representing outstanding financial commitments is estimated at CFAF 7 320 billion. The domestic debt, divided between public securities (45.2%), structured debt (30.9%), the BEAC consolidated loan (21.6%) and unstructured debt (2.4%), is estimated at CFAF 2 670.3 billion. The outstanding domestic debt, for its part, corresponds to CFAF 449.8 billion.



Tips
Ekwang Published on 22.09.2022

South West Dish Ekwang, more than just a Meal

Many savour Ekwang based on its wonderful taste, but little consider its nutritional values. Probably one of the reasons out ancestors and grand and great…

More
Subscribe

Subscribe to Journal du Cameroun newsletter and receive all news stories free of charge

Diary
  • No event.
More
Back top