My opening address to the Working dinner offered on the occasion of the presentation of the program for public securities issues under the 2020 budget. Akwa Palace Hotel, Douala, February 20, 2020.
Excerpts: “… In view of the volume of resources mobilized in 10 years, one is tempted to believe that the debt of the State has particularly accelerated during the last decade. But it is not. Of 2000 billion mobilized, around 1,500 billion were cash operations, therefore repayable in less than a year. Much more the stock of government securities on December 31, 2019, was 436 billion.
As for the overall State debt, it is estimated at 8,500 billion FCFA or about 38% of gross domestic product. In fact, the convergence criteria of CEMAC States sets the ceiling of the States’ public debt at 70% of GDP. So Cameroon with its debt ratio of 38%, still has a large debt margin. I will ask the Director General of the Autonomous Amortization Fund to make a brief comment on the composition of the State debt portfolio and on the national debt strategy in the short and medium term.
To this end, for the continuation and completion of certain development projects entered in the State budget, the finance law of the Republic of Cameroon for the 2020 financial year authorizes the Government to resort to the issuance of public securities for a maximum amount of FCFA 330 billion… ”
The entire speech