This envelope will be mobilized to pay off part of the country’s external debt, i.e. 34.6 billion FCFA, but also its internal debt to the tune of 30.4 billion FCFA, indicated the Autonomous Sinking Fund (CAA). in its economic report for the month of June 2022 which it has just made public.
Cameroon’s outstanding debt, i.e. Cameroon’s overall debt (domestic and external) assessed at the end of June 2022 by the Autonomous Sinking Fund (CAA) amounts to 11,993 billion FCFA, of which 875.2 billion FCFA are to be credited to public companies operating under the flag of the State. From this colossal slate, Cameroon will reimburse 65 billion FCFA in August 2022, indicated the CAA in its monthly economic note for the account of June 2022, which it has just made public.
In its publication of this Wednesday, August 10, 2022, the bi-weekly EcoMatin, a newspaper specializing in economic issues, specifies that in this envelope, 34.6 billion FCFA will be used to pay off part of the country’s external debt. In detail, an envelope of 12.8 billion FCFA will be allocated to multilateral creditors, 13.1 billion FCFA to bilateral partners and 8.7 billion FCFA to commercial creditors. The beneficiaries are the African Development Bank (AfDB), the World Bank through its IDA instrument, the International Bank for Reconstruction and Development (IBRD), Exim Bank Turkey, the French Development Agency (AFD) and Bank of China.
The domestic debt to be paid off by the State to its domestic lenders in August 2022 amounts to 30.4 billion FCFA. Part, 29.8 billion FCFA will be used to service the structured debt and will be used to repay loans taken out with local banks.