Business News of Friday, 2 September 2016Source: Business in CameroonCameroonian public debt is estimated at FCfa 4754 billionAlamine Ousmane Mey, Ministre des financesOn 30 August 2016 in Yaoundé, during a ceremony to table and adopt texts governing the operation of the National Public Debt Committee, the Minister of Finance, Alamine Ousmane Mey, disclosed that the Cameroonian public debt is at FCfa 4754 billion at the end of July 2016. This represents only 27.3% of the country's GDP and is thus well below the accepted norm of 70% in the CEMAC area. In spite of these figures which seem to comfort local public authorities, Cameroon has been facing criticism for several months from Bretton Woods institutions. As a reminder, the National Public Debt Committee was created by Prime Ministerial decree of 4 August 2008. Chaired by the Minister of Finance, the mission of this body is to co-ordinate, monitor the implementation of the national policy of public indebtedness and management of the public debt, ensure its coherence with development objectives and the capacity of the State.

Source: CameroonWeb September 02, 2016 12:04 UTC