Cameroon mobilizes 6 billion CFA francs from BEAC

The State goes back to the money market of the Bank of Central Africa States (BEAC) to mobilise six billion F (instead of five billion as foreseen in Q4 2014 calendar) to fill its cash deficit.

They issued six thousands comparable Treasuries (OLT) with a nominal value of one million each. Subscriptions are open to 13 banks operating in Cameroon. however, they have until Wednesday before 9 0’clock to make their offers and the results will be revealed tomorrow.

For proposals that the State will retain, interests will be discounted on the value of securities and the reimbursement will be made on April 10, 2015.

This operation (3rd on the six listed for this last quarter of the year) takes place at the same time the Gabonese public Treasury wants to mobilize, eight billion F via the same mechanism to which six Cameroonian banks can subscribe.