The President of the Republic has signed a decree authorising the Minister of Finance to raise FCFA 1,650 billion through domestic and external borrowing to fund development projects and clear outstanding payments. The decree, dated 21 January 2026, allows new financing at a time when the country’s public debt stock stood at FCFA 14,591 billion at the end of September 2025, representing 43.9 per cent of gross domestic product (GDP), according to figures released by the Ministry of Finance, citing the Autonomous Sinking Fund (CAA).
Under Article 1 of the decree, the authorised borrowing is broken down into three components. A total of FCFA 400 billion is to be mobilised on the domestic financial market through the issuance of Treasury Bonds and/or Fungible Treasury Bonds. An additional FCFA 250 billion is earmarked for direct borrowing from international private organisations. The largest share, FCFA 1,000 billion, is to be raised on external banking markets. The overall ceiling of FCFA 1,650 billion is intended to finance development projects and settle outstanding state obligations.
The borrowing authorisation follows the recent ratification of two major loan agreements totalling more than FCFA 254 billion. Under Decree No.2025/525 of 18 November 2025, Cameroon approved Loan Agreement No.224/CAM-25/01-INFRA worth FCFA 99.85 billion for the road component of the Integrated Development and Planning Programme for the Dja Mining Belt and Surrounding Border Areas (PADI-Dja). A second decree, No.2025/524 of the same date, authorised a financing package with MUFG Bank of London for the construction of the urban section of the Yaounde–Nsimalen highway, Lot 1. The package includes a buyer’s credit of EUR 207.9 million (FCFA 136.392 billion) and a commercial credit of EUR 27.6 million (FCFA 18.105 billion).
According to the Ministry of Finance, Cameroon’s public debt increased by 0.8 per cent month-on-month and 2.6 per cent year-on-year by the end of September 2025, while remaining broadly stable every quarter. The debt stock comprises both external and domestic obligations. Treasury arrears stood at FCFA 171.3 billion, covering unpaid bills for goods and services, subsidies, personnel expenditure, and transfers, according to data from the CAA.
Mercy Fosoh
