The sum of 450 billion FCFA has been raised from the 2021 Eurobonds in a relatively short period of time.
Finance Minister, Louis Paul Motaze, while speaking in Yaounde Friday July 9, indicated that the success which comes a few weeks after the exercise was launched, is proof of the confidence that international creditors and investors have in Cameroon’s management of finances.
Minister Paul Motaze expressed much satisfaction saying that this underscores the fact that the efforts being undertaken to safeguard stability and sustainability of Cameroon’s economy are not going in vain.
The 450 billion FCFA raised on the international market is meant to buy back Eurobonds for the same amount issued in 2015 and whose repayment was earmarked for the same year. It is worth noting that funds generated from the 2015 Eurobonds were used to finance several structural projects.
Some of the projects included; the construction of a second bridge over the Wouri river, the Yaounde Nsimalen motorway, the Kribi deep seaport, and the Bama-Messamena highway in the East Region.
Written by Pavel Joseph Nyuysuliy