At the end of March 2026, the direct debt of the Central Administration of Cameroon stood at 14,431 billion FCFA, or 41.5% of GDP, up 7% year-on-year. External borrowings account for 64.5% of the total outstanding, while contingent liabilities mainly related to PPPs peak at 4,895 billion FCFA.
Cameroon’s public debt continues to rise in the first quarter of 2026. According to data published by the Autonomous Amortization Fund, the outstanding direct debt of the Central Administration reached 14,431 billion FCFA at the end of March, corresponding to 41.5% of the gross domestic product (GDP).
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This debt shows an increase of 0.2% compared to the previous month, 4.5% over the quarter, and 7% year-on-year. The portfolio structure remains largely dominated by external debt, which represents 64.5% of the total outstanding, compared to 35.5% for domestic debt, including payables over three months.
The debt of public institutions and enterprises, excluding debt retroceded by the State, amounts to 960 billion FCFA, or 2.8% of GDP. Unlike sovereign debt, this component records a decline of 0.7% over one month, 1.1% over the quarter, and 7.9% year-on-year. Its composition remains dominated by domestic claims, estimated at 53.8%, mainly consisting of bank debts and floating debts.
The State’s explicit contingent liabilities, mainly arising from Public-Private Partnerships (PPPs), are estimated at 4,895 billion FCFA, representing 14.1% of GDP. The Autonomous Amortization Fund notes that this level has remained “generally stable for more than a year.”
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The debt of Decentralized Territorial Collectivities (CTD) remains marginal, with an outstanding amount of 26 billion FCFA. However, financial authorities indicate that efforts are underway to improve the traceability and accounting of these financial commitments.
In this regard, the Ministry of Finance has strengthened the prior control requirements for public borrowings. By an instruction letter signed on March 31, 2026, the president of the National Public Debt Committee (CNDP) reminded local authorities and public entities “of the necessity to consult the CNDP prior to any borrowing and guarantee request,” to ensure better monitoring of public debt.
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