Cameroon eyes $845 million debt issue this year on international market

DAKAR, May 26 (Reuters) – Cameroon’s government has received the go-ahead to issue loans on the international market worth 450 billion CFA francs ($845 million) this year, according to an order signed by President Paul Biya.

It said this would be done mainly for the partial or full redemption of the current Eurobond. Cameroon issued that 10-year Eurobond worth $750 million in 2015.

$1 = 532.5000 CFA francs Writing by Alessandra Prentice Editing by Chris Reese

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  1. Instead of wasting time trying to raise money that will not be used to do productive investment through bonds. It is easy to raise hard currency by growing high value short season cereals like soy beans for export to the way if hard currency is not used to import high quality capital goods like cotton Transformation machinery to build an efficient, competitive industrial sector.then it is of no use. What creates added value, wealth, knowledge and high paying jobs is the capacity of industry to move up the value chain. A country without a strong competitive industry, even labour intensive industries is not a country. Even if it is given twenty trillion it will waste it on importing consumption goods.

    • Who has stopped you from growing soya beans? We don’t need another government run enterprise, citizens like you should come home and establish companies. Stop the ranting abroad.