Cameroon for the second time has not succeeded to raise 10 billion FCFA as expected from the debt market of the Bank of Central African States BEAC.
Following the issuance of a 52 week fungible treasury bill, investors only churned out 8.5 billion FCFA with 7.5 billion FCFA kept by the Government for their interest rates.
Interest rates required by investors during the operation averaged 3.41% . Infact, it emerged that the businessmen wanted between 3.15% and 3.75%. But the Cameroon government has always stood her ground on 3% interest rate.The cause of this failure. In similar fashion, Cameroon in February this year, failed 20 billion FCFA from the same market after issuing a 26 week fungible treasury bill. The second failure within a month is not a good sign considering the economic shock emanating from the separatist conflict in the North West and South West regions, Boko Haram insurgency in the Far North region and the recent coronavirus pandemic.
