Cameroon still has nearly FCFA4 trillion in unused foreign loans

Cameroon’s National Sinking Fund CAA reported the availability of around FCFA3,980.1 billion of unused foreign loans in the national coffers as of the end of September 2024. This volume is 5.2% higher than last year’s contracted but undisbursed debt (SENDs). According to the CAA, SENDs represent financial resources that Cameroon has borrowed from international financial partners, including other governments and multilateral institutions, but has not yet drawn on. “This creates several financial and strategic challenges for managing public funds,” CAA noted. The debt agency cited several reasons behind the growing SENDs, including extended project timelines, strict conditions imposed by lenders,…