This debt, which represents 45.5% of Gross Domestic Product (GDP), is up 0.8% compared to the last term and 7.4% year-on-year.
11,456 billion CFA francs is the amount of the debt of the State of Cameroon underscored in March 2022. This debt is made up of 92.5% which is a direct debit of the central administration and 7.4% of public companies’ debt. The information is from the general manager of the Autonomous Sinking Fund, ASF, in an interview published by the Cameroon tribune last Monday, May 23, 2022.
According to Richard Evina Obam, the direct debit of the central administration amounts to approximately 10,593 billion CFA francs or 41.6% of GDP. It has increased by 1.0% compared to the previous quarter and by 8.2% year-on-year. This outstanding amount comes from debt from external creditors estimated at 72.1% and from debt from domestic lenders. To this, it would be necessary to include those left to be paid dating from more than three months.
The director of ASF continues by giving an estimate of the direct debit of public companies at the end of March 2022. It is around 860 billion CFA francs or 3.4% of GDP. Unlike the central government debt, this was down 0.7% from the previous quarter and 1.4% year-on-year. This debt is 53.4% due to external creditors and 46.6% to internal partners.
According to Richard Evina Obam, the increase in the debt of the State of Cameroon finds its explanation in the commitment of Cameroon to the realisation of infrastructural projects since 2010. To carry out these projects aimed at the economic development of Cameroon, the government has chosen to resort to public debt.