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8, October 2024
Biya regime issues new bonds to cover CFA12bn repayment 0
On October 2, Cameroon successfully issued CFA10 billion in treasury bonds on the Beac public securities market. The results of this loan have not yet been disclosed.
This issuance coincided with a scheduled repayment of CFA12 billion from the Cameroonian treasury, which was due on the same day. This repayment relates to a loan taken out 26 weeks earlier. This suggests that, as is customary, the Cameroonian government sought to secure the repayment by obtaining a new loan.
This practice has become common in the sub-regional public securities market, allowing Cameroon to avoid dipping into its cash reserves to meet obligations to BEAC market investors.
It is worth noting that since the launch of the BEAC public securities market in 2011, the Cameroonian treasury has never recorded a single payment default. This track record makes Cameroon one of the most creditworthy countries in the market for the past 13 years.
Source: Business in Cameroon