Cameroon is expected to settle debts totaling XAF32 billion on the public securities market of the Bank of Central African States (BEAC). This is revealed in the calendar of operations to be carried out on the said market over the February 7 to 11, 2022, period.
That debt is made up of 13-week (XAF17 billion) and 26-week (XAF15 billion overall) bills issued by the country on the market. The calendar reveals that in preparation for the debt repayment, Cameroon issued 26-week treasury bills, on the BEAC market, on February 7, 2022, to raise XAF20 billion.
There is currently no indication of how the country will raise the remaining XAF12 billion but it is possible that the resources will come from the XAF83 billion Cameroon raised during a domestic syndication operation carried out on the BEAC public securities market last week.
In any case, Cameroon should have no problem meeting this new repayment deadline. Indeed, according to the directorate general of the treasury, since 2011, when the said public securities market was launched, Cameroon has never defaulted. From 2011 to end-December 2021, the country has repaid XAF3000 billion on that market, at their due dates every time.
Original story on Business Cameroon