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Domestic debt: Govt sets aside CFA50 billion for Q3 2020

Domestic debt: Govt sets aside CFA50 billion for Q3 2020

Paru le mardi, 10 novembre 2020 10:01

The Cameroonian government announced, in a statement recently issued by the Minister of Finance, the repayment of part of its domestic debt from November 9, 2020. The amount allocated for this operation is CFA50 billion FCFA.  

This sum is intended for the "settlement of invoices and billings authorized for the fiscal year 2020," the press release states. The strategy aligns with “the deployment of a stimulus package ordered by the Head of State to mitigate the impacts of the coronavirus pandemic.”

A total of 5,000 economic operators will receive payments from the government, including private and public companies as well as decentralized territorial collectivities. For all recipients, excluding those from the private sector, payments cover expenses incurred up to July 31, 2020.

"Invoices and statements of expenses due (investments, goods, and services) for the financial year 2020 are paid chronologically. The payments that will begin this Monday (November 9, ed) are therefore in the continuity of previous actions, "said Samuel Tela, Director of Treasury at the General Directorate of the Treasury and financial and monetary cooperation of the Minister of Finance, as reported by Cameroon Tribune.

For the third and fourth quarters of 2020, the government will have to disburse CFA208 billion to repay the domestic debt. With the disbursement of CFA50 billion, the finance department should pay the remaining CFA158 billion for the fourth quarter of 2020.

As of September 30, 2020, the Autonomous Amortization Fund (CAA), the public body in charge of debt management in Cameroon, estimates that Cameroon's domestic debt stood at CFA3,019 billion.

Baudouin Enama

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