Cameroons public debt is estimated at more than 2 700 billion CFA francs in May, representing 20% of GDP, below the threshold of sub-regional convergence in CEMAC's 70%, learned Thursday from official source in Yaoundé, the capital.
In his presentation, the Minister delegate to the Minister of finance, Pierre Titi, establishing the "National Committee of Public Debt (CNDP) and the guidelines of the National Policy of Public Debt", pointed out that after obtaining a favorable treatment of its debt in the early 2000s, Cameroon found a moderate debt level.
«Indeed, on May 31, 2014, the Cameroonian public debt is estimated at over 2,700 billion FCFA.» "Representing 20% of GDP, below the regional convergence - threshold in the CEMAC's 70%, committed and undisbursed balances on them, are estimated at 2,000 billion CFA FRANCS and prospects situates this debt to about 5,000 billion by the year 2017, approximately 35% of GDP", he added.
However, these financial assistances are essentially oriented towards productive investment and structuring infrastructure, all things that promote a virtuous, generator capacity of future repayment.
Established in August 2008, the National Debt Committee has as missions to coordinate and monitor the implementation of the national policy of public debt and public debt management to ensure its consistency with the objectives of development and the financial capacity of the State.
It is a consultative body that issues a reasoned opinion on requests and offers funding relevant to the State as well as on public borrowing and sovereign guarantee and retrocession requests addressed to the State.
