Cameroon has made significant strides in debt repayment, settling a total of CFA148.2 billion ($267 million) to China’s Eximbank in the first quarter of 2024. Among this amount, CFA 34.7 billion was allocated for interest payments.
According to reports from the news business website « Business in Cameroon » this marks the largest debt and interest payments made by Cameroon to all creditors during this period.
The Chinese Eximbank emerged as the top beneficiary of Cameroon’s external debts, surpassing prominent multilateral institutions like the World Bank and the IMF.
Overall, Cameroon’s cumulative external debt service in Q1 2024 amounted to CFA262 billion. This represents a 31.8% execution rate compared to the projected CFA 825 billion for the year, reflecting the country’s commitment to managing its debt obligations.
