Cameroon – Debts: Cameroon among the 10 most indebted countries in Africa

Written by Deckson N.

With 5,722 billion FCFA, Cameroon ranks 10th of the sub-Saharan countries in 2016.

This is a ranking published by the World Bank and the IMF that reveals the charts of the most indebted African countries  in 2016. In this list, Cameroon occupies the 10th position of the 42 ranked. According to The Herald on newsstands this Monday, May 23, 2016, after having scrutinized the rankings, it shows that Cameroon is the first francophone country. In other words, Cameroon is the most indebted country in sub-Saharan Africa. The amount of public debt is estimated at 5722 billion FCFA.

A ranking not really surprising, especially as the IMF Managing Director, Christine Lagarde, warned the government about the country’s debt. The Director of the IMF then recommended to apply a rigorous discipline in income and expenditure.

Furthermore, for the rest, South Africa is without doubt the most indebted African country. The newspaper said its debt stood at over 103 billion FCFA. Far ahead of that of Angola, which is nevertheless the most indebted sub-Saharan country with over 27 billion CFA francs. Nigeria, economic powerhouse of Africa, registered a debt of about 17 billion FCFA.

Also, the ten least indebted African countries starting from the 42nd rank are the Comoros, the Central African Republic, Guinea-Bissau, Swaziland, Burundi, Liberia, Gambia, Lesotho, Eritrea and Cape Verde, details the daily.

However, according to the ranking of the most indebted sub-Saharan countries in proportion to their GDP, positions have changed from the previous ranking. In this case, Cameroon occupies the 32nd place of 45 countries, with an estimated public debt at 38% of GDP.

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Deckson N.

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