Domestic Debt: Cameroon Misses Its 2024 Repayment Target of CFA 826 Billion
Dernière mise à jours il y'a 10 moisAccording to the Autonomous Amortization Fund , Cameroon's Treasury paid a total of 435.5 billion FCFA towards its domestic debt in 2024. This amount represents only 52.7% of the 826.3 billion FCFA target set in the revised finance law for 2024
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The Autonomous Amortization Fund , does not explain why the government failed to meet its domestic debt repayment targets. However, this reality may be due to the accumulation of unpaid bills of less than three months, amounting to 341 billion FCFA at the end of 2024, as well as the accumulation of unpaid VAT credits to businesses over several years. These categories of debt are not subject to mandatory repayment schedules, unlike funds raised on the capital market.According to the latest report from the Caisse autonome d'amortissement (CAA). The total amount paid towards external debt servicing reached 942.6 billion FCFA, surpassing the revised Finance Law's target of 825 billion FCFA.
This achievement is notable, especially considering the challenges faced by many countries in meeting their debt repayment obligations. The report highlights the government's efforts to manage its external debt effectively and ensure sustainable economic growth.It's worth noting that while Cameroon has made progress in repaying its external debt, it still faces challenges in managing its internal debt. The country's internal debt repayment targets were not met, with only 52.7% of the targeted amount being repaid.According to the public debt manager. Adding: "The external debt service is based on mandatory deadlines, including both principal repayment and interest payment, in accordance with the contractual commitments made by the State
Christelle koambi
JESSICA CHRISTELLE KOAMBI
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Floyd Miles
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