State public debt: No external debt arrears to date
These are the words of the Managing Director of the Caisse Autonome d'Amortissement (CAA), Adolphe NOAH NDONGO, in an interview with Cameroon Tribune. "Financial players, both national and international, continue to have confidence in Cameroon", he added. Outstanding debt stands at 12,137 billion CFA francs, or 43.8% of Gross Domestic Product (GDP). This is below the 50% threshold set by the government and the 70% threshold set by the Central African Economic and Monetary Community (CEMAC). It is made up of : CFAF 1,240 billion in central government debt, contracted mainly for infrastructure projects (92.6%); CFAF 887 billion in debt owed by public enterprises and establishments (7.3%); and CFAF 10.2 billion in debt owed by decentralised local authorities (0.1%). Cameroon's public debt is viable, but presents a high risk of over-indebtedness, mainly due to low budget and export revenues.
