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Cameroon seeks $1.7 billion in fresh borrowing to cover fiscal gap

Roundabout in Yaounde, Cameroon @ Pexels
Roundabout in Yaounde, Cameroon @ Pexels

Justice Nwafor

Justice Nwafor is an award-winning journalist covering finance, energy, climate, and economic development across the region.
  • President Biya authorises $1.7 billion borrowing from domestic and international lenders
  • IMF warns Cameroon is at “high risk of debt distress”

 

YAOUNDÉ, CAMEROON – Cameroon will borrow up to $1.674 billion from both domestic and international markets to cover a widening fiscal deficit, President Paul Biya announced, as the country battles mounting debt challenges.

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