22, May 2025
Biya regime to borrow as much as $348m to bolster finances 0
Cameroon’s finance minister has been authorised to raise up to 200 billion CFA francs ($348 million) from international financial markets to shore up government cash flows for fiscal year 2025, according to a presidential decree.
Kelly Mua Kingsly, Head of Finance Operations of the State at Cameroon’s Ministry of Finance, told Reuters on Wednesday that the government would consider using several market instruments, but most likely syndicated loans.
“This is most likely given the urgency and nature of liquidity needs. It is also attractive due to shorter structuring time and flexible drawdown options,” Kingsly said.
In addition, he said concessional or semi-concessional loans suitable for budget support components and assimilable treasury bonds or treasury bills on the Bank of Central African States (BEAC) market could also be considered.
Eurobonds were less likely, he said, due to high global interest rates, low sovereign credit ratings and lower appetite from international capital markets for frontier markets in the wake of the COVID-19 pandemic and during a period of geopolitical risk.
The borrowing plan comes as Cameroon faces slow disbursement of external financing and delays in revenue mobilisation, notably non-oil tax collection deficits.
Tight monetary policy by the regional central bank to curb inflation and stabilise the CFA franc currency has provoked a liquidity squeeze across Central Africa, while the BEAC’s reserve requirement has impacted treasury liquidity.
Officials also say the government is keen to diversify its sources to avoid excessive domestic borrowing that could crowd out private sector investment.
Cameroon has recently relied on domestic and external borrowing to bridge budget deficits.
($1 = 575.5000 CFA francs)
Source: Reuters



















23, May 2025
Football: Modric to leave Real Madrid 0
Real Madrid captain Luka Modric has revealed he will leave the Spanish giants after the end of their Fifa Club World Cup campaign this summer.
The 39-year-old Croatia midfielder, the 2018 Ballon d’Or winner, will play his last match at Real’s Bernabeu home when they welcome Real Sociedad on Saturday in their final La Liga game of the season.
“The moment has arrived. The moment I never wanted to come, but that’s football, and in life everything has a beginning and an end,” Modric said on Instagram.
He has won 28 trophies, including six Champions Leagues and four domestic titles, since joining Real from Spurs in 2012.
“I arrived in 2012 with the hope of wearing the jersey of the best team in the world and the ambition to do great things, but I couldn’t have imagined what came next,” he said.
“Playing for Real Madrid changed my life as a footballer and as a person.
“I’m proud to have been part of one of the most successful eras of the best club in history.”
Real will open their Club World Cup campaign against Saudi Arabia’s Al-Hilal on 18 June and will also face Mexico’s Pachuca and RB Salzburg of Austria in the group stage.
Modric bagged two goals and six assists in 34 appearances in the Spanish top flight this season as Real were pipped to the title by Barcelona.
He also featured in every game as Carlo Ancelotti’s side reached the quarter-finals of the Champions League, where they were beaten 5-1 on aggregate by Arsenal.
Modric signed a one-year contract extension last year, which expires at the end of this campaign.
Saturday’s game will also be Ancelotti’s last in charge of Real, with Bayer Leverkusen boss Xabi Alonso reportedly set to succeed the Italian.
‘Modric’s legacy will live on forever’
Although he has been largely limited to substitute appearances this season, Modric will leave Real as its most decorated player after 590 appearances, 43 goals and 95 assists.
“Modric will forever remain in the hearts of all Madridistas as a unique and exemplary footballer who has always embodied the values of Real Madrid,” added club president Florentino Perez in a statement.
“His football has captured the imagination of Madridismo and fans all over the world. His legacy will live on forever.”
Modric captained Real to two trophies in his final season to take his haul to 28 titles, overtaking Nacho Fernandez as the club’s most successful player.
His tally includes the six Champions Leagues, six Fifa Club World Cups, five European Super Cups, four La Liga titles, two Copa del Rey triumphs and five Spanish Super Cups during his 13 seasons at Real.
After leading Real to a 2018 Champions League success over Liverpool and then Croatia to the World Cup final in the same year, Modric became the first player since 2007, other than Cristiano Ronaldo and Lionel Messi, to win the Ballon d’Or.
He is also the oldest player to represent Los Blancos in La Liga and their oldest goalscorer, having scored in a 2-1 win over Valencia at the age of 39 years and 116 days, overtaking Ferenc Puskas’ mark.
Modric is also currently the third longest-serving member of a Spanish top-flight side, behind Oscar de Marcos of Athletic Club and Atletico Madrid midfielder Koke.
Last month, the Croatia legend became an “investor and co-owner” with a minority stake in Championship side Swansea City.
‘It feels like the end of an era’
Although Modric has been playing less than he has done for most of his Real Madrid career, he is the kind of player that can affect things because he becomes a magnet for the team.
He may have felt he was being useful at some points, but football is heading in a different direction now – you need to cover a lot of ground for instance. Look at Pedri who is the number one retriever of possession at Barcelona and runs more than anybody else. Modric can’t do that anymore.
He has been the one who has been pushing to stay put but Real had doubts. They listened to the player, the fans, read the room and felt it wasn’t time yet. But everybody was prepared for his departure.
Modric, however, has been an exemplary professional.
Perhaps his most difficult time was when Carlo Ancelotti told him and Toni Kroos that he was going to change things and the club had decided to go for a more physical and dynamic midfield with Aurelien Tchouameni, Fede Valverde and Eduardo Camavinga.
Kroos managed to turn things around and became a very important part of the team, but Modric had a phase on the bench.
During the last couple of years, his situation has left him a bit uneasy. He didn’t know where he stood. He felt he could play 90 minutes more often. It was a nightmare for him but this season, he has understood his role better and has been their leader.
But ultimately, this will have been a decision taken by the club. Xabi Alonso would have agreed to it but it’s a club decision, first of all. The way Alonso’s teams play requires a lot of effort which he cannot ask of Modric.
It also feels like the end of an era.
There is a new culture that has to be set for this team. Ancelotti has struggled with the fractions and egos in the team and by getting Modric out, you can build for new leaders – and that might be Real’s thinking.
Source: BBC