Cameroon’s External Borrowings Climbed 36% in First Quarter

Cameroon borrowed 23.6 billion CFA francs ($51.1 million) from abroad in the first quarter, 36 percent more than a year earlier, according to Finance Minister Essimi Menye.

The cost of servicing the debt climbed 12.7 percent to 11.5 billion over the same period, Menye said in a statement handed to reporters today in the capital, Yaounde. He didn’t give a figure for the outstanding debt.

The cost of serving domestic debt rose to 55.6 billion CFA francs from 45.3 billion, Menye said.

To contact the reporter on this story: Pius Lukong in Yaounde at plukong@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

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