According to an economic report, Cameroon is seeing its borrowing conditions tighten on the regional market. This development comes as CEMAC states increase short-term issuances.
In an economic report, several signs of tension are appearing regarding the financing of the Cameroonian state. On the public securities market, the average rate for Fungible Treasury Bills (BTA) rose from 2,67 % in 2020 to nearly 6,9 % in 2026, reflecting a marked increase in borrowing conditions.
To finance its 2026 budget, the state plans to raise 1 165 billion FCFA on the regional market. While Cameroon maintains a relatively solid position with a debt-to-GDP ratio of around 42 %, lower than that of several neighboring countries, the current dynamic is drawing the attention of analysts.
The rise in interest rates could indeed increase the debt burden and reduce budgetary room for maneuver, particularly for public investments and infrastructure projects.
The report also highlights that the situation extends beyond the Cameroonian case alone. In 2026, CEMAC states are expected to borrow nearly 3 900 billion FCFA, more than half of which is short-term. This financing structure increases refinancing needs and exposes states to risk in the event of a reversal in investor confidence.
The difficulties recently observed in Gabon or Congo show that this scenario is no longer theoretical. A market freeze could have direct repercussions on the region’s economies, affecting public salaries, investments, and structural projects. For observers, the issue of debt management is now becoming a central topic for financial stability in Central Africa.
