Cameroon public debt up 6%, remains below regional threshold ⁰

Cameroon’s public debt stood at 15,416 billion CFA francs ($27.3 billion) as of March 31, up 6% year-on-year, according to data published on Friday by the Caisse autonome d’amortissement (CAA), the country’s public debt management agency.

Despite the increase, the debt burden remained manageable at 44.3% of gross domestic product. The ratio aligns with the targets set out in the Medium-Term Debt Strategy (SDMT) 2025-2027, which caps public debt at 50% of GDP, below the regional threshold of 70%.

The CAA said the ratio reflected “prudent” debt management. According to the agency, the increase in public debt mainly reflected financing needs linked to infrastructure projects and other state investments. Central government accounted for 93.6% of the total debt stock, up from 93.3% as of Sept. 30, 2025.

Cameroon continues to face significant financing needs. The 2026 budget was set at 8,816.4 billion CFA francs, up 14% from the previous fiscal year.

To meet those needs, the government is expected to continue borrowing, particularly on external markets, which are projected to provide more than 67% of financing in 2026. Financing requirements for 2026-2028 are estimated at 7,689 billion CFA francs, including 3,197 billion in 2026 alone, equivalent to roughly 8.8% of GDP.

The government is also considering a Eurobond issuance to finance major infrastructure projects. Despite the borrowing outlook, authorities said public debt should remain sustainable, although the risk of debt distress remains high. Against that backdrop, the International Monetary Fund projects economic growth of 3.3% in 2026, supported by higher public investment.

Source: ecofinagency