Public Debt: FCFA 96 Billion Interest Paid in Firt Half of 2023

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Public Debt: FCFA 96 Billion Interest Paid in Firt Half of 2023

The information has been made known following the National Sinking Fund’s (CAA) data.

15 août 2023 23:41

Cameroon paid the sum of FCFA55.1 billion to its domestic and foreign creditors in the first half of 2023, according to data from the National Sinking Fund (CAA). It specifically paid FCFA95.8 billion as interest and FCFA459.3 billion as principal, we learnt. In June 2023, alone, the country settled FCFA69.6 billion of debt (excluding payment arrears and public securities), including FCFA60.8 billion in principal and FCFA8.8 billion in interest. On June 30, 2023, public sector debt (central government and public enterprises) in Cameroon stood at FCFA12,137 billion. This represents 43.8 per cent of GDP, below the 70 per cent threshold set in CEMAC convergence criteria. Year-on-year, it was down 0.4 per cent. the CAA emphasizes the outstanding amount does not take into account the Ecmr 2023 multi-tranche bond, issued on the financial market raising FCFA176.7 billion. “Subject to confirmation of the value dates of these operations, this amount will be taken into account in the public debt statistics for July,» the body continued. It is worth noting that CAA is a body created in August 1985 and amended in January 2019 with the main mission to contribute in liaison with the administrations and bodies concerning the implementation of the debt policy, project and programme funding and capital market management. As regards d...