Cameroon’s Sinking Fund (CAA) informs that on September 30, 2020, the country’s public debt was XAF10,164 billion, representing 45.8% of GDP.
According to the sinking fund, the debt is up by 1.3% year-over-year but down by 0.1% quarter-over-quarter. Meanwhile, compared with its December 2019 level, it is up by 5.7%.
It explains that since July 2020, the scope of public debt has gradually expanded to include the entire public sector (including the debt of public companies and institutions) when the information is available.
In detail, the public sector’s external debt is estimated at XAF7,110 billion (including XAF6,681 billion for the central government and XAF429 billion of direct external debt not endorsed by the state). As for the domestic debt, it is estimated at XAF3,019 billion, including XAF208 billion of over 3 months old outstanding debts.
Overall, 61.3% of Cameroon’s bilateral public debt is owed to China (which is its main bilateral partner) and 28.5% to France. As for the multilateral debt, 30.1% is owed to the AfDB, 30% to the World Bank, and 17.1% to the IMF.
Publisher/Editor: OJONG Steven AYUKOGEM. Tel: (+237) 77 07 27 79. E-mail: themedianpaper@yahoo.com
Wednesday, 11 November 2020
Heavily Indebted Country: CAA Estimates Public Debt at Fcfa 10,164 bn
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