Cameroonian State Repays FCFA 150 Billion Debt

Cameroonian state repays part of domestic debt

The public debt of the Cameroonian state as at the end of July was stated at FCFA 483 billion, according to this report. Part of this debt represents the country’s domestic debt which is FCfa 327 billion. This was declared by the Minister of Finance, Alamine Ousmane Mey, in Yaoundé during a ceremony to table and adopt texts governing the operation of the National Public Debt Committee.

The Cameroonian state has paid back FCFA 150 billion of its debt. The debt represented part of the state’s domestic debt which is stated at 327 billion. This amount was in repayment of a loan of FCfa 143.3 billion, granted in February 2015 to the government, by a bank consortium led by BGFI Cameroon. The local subsidiaries of Société Générale and Ecobank were also in this consortium, followed by Cameroonian Afriland First Bank.

Recently, there have been a series of huge loans which the Cameroonian state has taken to finance certain projects. These operations have caused Cameroonians to be worried about the state and future of their country, and how these loans will be repaid.

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