(Business in Cameroon) – Cameroon’s domestic debt, excluding payables over three months, has increased by CFA169 billion between March 2023 and March 2024. According to the latest report from the national sinking fund (CAA), the public debt management agency, the domestic debt reached CFA3,663 billion in the first quarter of 2024, up from CFA3,494 billion a year earlier.
The CAA’s data analysis shows that this increase is primarily due to Cameroon’s efforts to raise funds on the public securities market of the Bank of Central African States (BEAC). While the debt contracted by the country on this market between January and March 2023 stood at CFA1,561 billion, the amount reached CFA1,865 billion in the first quarter of 2024, revealing an annual increase of 304 billion CFA francs.
This rise has offset the CFA78 billion year-over-year decrease in the country’s structured domestic debt, which fell from CFA905 billion to CFA827 billion between the first quarters of 2023 and 2024.
Overall, Cameroon’s public debt reached CFA12,714 billion over the period, up 1.1% compared to the same period in 2023. This amount represents 42.9% of GDP, well below the 70% tolerance threshold set in the CEMAC’s multilateral surveillance criteria. According to the CAA, Cameroon’s debt is borne by the central administration (93.3%), public enterprises and institutions (6.6%), and decentralized local authorities (0.1%).
