Besides the diplomatic pressure being mounted on Cameroon with regards the political (Anglophone) crisis rocking the country, there is a less talked-about pressure which is, even more pinching and hurting than the diplomatic pressure.
Should this crisis continue, Cameroon risk seeing its credit rating slashed by Moody & Fitch in the coming months. The two credit rating agencies who recently rated Cameroon as B2 & B respectively already highlighted structural weaknesses (in other words; governance and political risks) as major concerns prior to the last ratings.
Meaning should the political crisis get any worse, Cameroon’s rating could be slashed, making it difficult for Cameroon to raise funds from the financial market.
To note how important this sector is, in 2015, the country raised $750 million through the sale of securities due in November 2025 at 9.75 percent. Most of the money is reported to have gone towards public spending.
Cameroon has also significantly increased it’s bilateral borrowing from China, the go-to place when pressed by the wild west. (68% of all bilateral debt). It has also been borrowing nationally at an increasing rate to finance its arrears and one of the country’s biggest national creditor is SONARA.
As of today, the country public debt stands at $18 636 130 339 (FCFA 11,213,637,499,532.60 frs). What this means is that, of the estimated population of
c.a 25million, each and every Cameroonian owes an average of $763 (FCFA 459,241.94 frs). This is Cameroon’s total national debt per capita.
These are figures the Yaounde regime will do everything to conceal from the struggling population. We are being rubbed and at the same time indebted in broad daylight.
Stay home tomorrow May 1st and meditate over these figures if you care about this country. There is nothing to celebrate for.
Be a conscious citizen.
Anyway, it’s a natural contri Sunday
The struggle continues.