The Minister of Finance, Louis Paul Motaze, has just been authorised by the President of the Republic to borrow on the domestic and international markets.

The Head of State, Paul Biya, signed a decree last July 22 authorising the Minister of Finance, Louis Paul Motaze, to borrow on the international and domestic markets on behalf of the State of Cameroon. He is thus authorised, “to borrow on the domestic and international financial markets for amounts of CFA 280 billion and CFA 336 billion respectively”.

The amounts to be borrowed are intended to finance the projects set out in the 2024 finance act and to settle outstanding payments. A total of 616 billion CFA francs will have to be raised to achieve these objectives.

On June 20, 2024, the President of the Republic signed a decree amending and supplementing certain provisions of the Finance Act for the current financial year. The amended finance act provided for recourse to the financial and banking markets. A total of CFAF 747 billion is expected to be raised on these markets this year, of which CFAF 280 billion will be raised on the domestic market. These resources will be used to finance development projects.

As a reminder, according to the Sinking Fund, Cameroon’s public debt manager, the country’s outstanding public debt reached CFAF 13,070 billion at the end of June 2024. This represents an increase of 4.9% over the previous year.