Financing of the budget

Cameroon has mobilized more than 3,100 billion in 10 years

The instruments used by the Directorate General of the Treasury have enabled the State to raise significant resources on various platforms.

In 2010, Cameroon inaugurated its entry into the mobilization of financial resources through public call for savings. That year, 200 billion CFA francs were raised by the State following a bond issue with an interest rate of 5.5% over five years. Since then, the country has recorded performances on various platforms.

Thus, for example, CFAF 1,593.685 billion were mobilized in terms of assimilable Treasury bills; Assimilable Treasury Bonds brought in CFAF 273.716 billion over the same period, while bond issues amounted to CFAF 795 billion and Eurobonds CFAF 450.35 billion. The country which achieves the lowest interest rates throughout the CFA zone has, each time, obtained an average coverage rate of 220% on all these operations.

In total, the State mobilized 3112.751 billion CFA francs during this period and reimbursed a total of CFAF 1 943.686 billion. This information was communicated to the press during a workshop organized by the Ministry of Finance in Kribi for journalists specializing in economic issues by Samuel Tela, Director of the Treasury. After taking stock of the State’s interventions on the financial markets, he also spoke to the media on the new budget deficit financing mechanisms, the limits of traditional financing, and concluded his presentation by presenting the challenges and prospects for development of the  secondary market for the State, the Central Bank as well as for commercial banks and investors.

With regard to financing methods, it appears that these fall into two categories: internal financing and external financing. Among the modes of domestic financing, we list the