LOANS AND DONATIONS : Cameroon mobilize 1,595.3 billion FCFA in 2022
The Amending Finance Law (LFR) of the 2022 financial year, borrowings consist of loans, public securities issues and other borrowings. As for donations, they include project donations and program donations resulting from cooperation with development partners.
According to the 2022 budget execution report, on a forecast of 1,911.8 billion FCFA, the country collected an envelope of 1,595.3 billion FCFA up by 39.8 billion FCFA, or + 2.6 %, compared to the 1,555.5 billion FCFA mobilized in 2021.
The Directorate-General Budget (DGB) reveals in its 2022 budget implementation report that these two indicators mobilized to the tune of 1,595.3 billion FCFA in 2022, experienced a decrease of 316.5 billion FCFA, compared to the forecasts of the LFR. Compared to the 1,555.5 billion FCFA mobilized in 2021, there is an increase of 39.8 billion FCFA, i.e. + 2.6 %.
In detail, Cameroon has mobilized loans of the order of 1,491.1 billion FCFA on a revised forecast of 1,769.5 billion FCFA, or an execution rate of 84.3 %. In the large group, there are project loans, IMF loans allocations of Special Drawing Rights (SDR) Program loans, issuance of government securities and other borrowings. By component, project loans are made up of multilateral borrowings, 272.3 billion out of forecasts of 294 billion, or a completion rate of 92.6 %, down 7.1 % compared to 2021. Then bilateral borrowings of 325.4 billion for forecasts of 267.1 billion, or a completion rate of 121.9 %. These project loans are up by 213.4 billion FCFA, or + 191.0 % year-on-year. Finally, commercial loans, « excluding draws on Itfc net loans, are located at 41.5 billion FCFA for forecasts of 185.4 billion FCFA, or a completion rate of 29 %. Compared to 2021, they have experienced a decrease of 17.3 billion FCFA, or 29 % », specifies the DGB.
As for the SDR allocations from the IMF (International Monetary Fund), it is at 70 billion FCFA on a forecast of 70 billion. Budget support for their part has been mobilized to the tune of 296.4 billion FCFA, representing an execution rate of 94.7 % compared to the forecasts of the LFR which estimated at 313 billion FCFA. It come from the IMF (131.3 billion FCFA), the World Bank (66.1 billion FCFA), the African Development Bank (53.1 billion FCFA), the French Development Agency (45.9 billion FCFA).
As for the issuance of public securities, Cameroon mobilized 485.3 billion FCFA in 2022, including 9.8 billion FCFA in BTC (equivalent treasury bills), 260.2 billion FCFA in OTA (equivalent Treasury bonds) and 235 billion FCFA bond loans. The LFR 2022 empowered the government to resort to issues of public securities and domestic bank loans for a maximum amount of 550 billion FCFA. The execution rate is at 88.3 %.
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