Call for public savings recorded 70.4 % coverage rate

The issuance of Treasury Bills Assimilable (BTA) which was launched by the Cameroon government recorded 70.4% coverage rate for an amount of 5 billion FCFA, according to the results released by the Ministry of Finance.

Launched with 13 certified specialists in Treasury Securities (SVT) who are based, not only in the country but in Congo, Gabon and Central African Republic, this operation has raised a total amount of bids of about 3,520 billion FCFA.

This follows another misstep on a trend registered during a similar operation launched on August 5 for the same amount, which was recorded as 96% subscription rate to a final collection of about 4 billion FCFA.

Throughout the year, the state of Cameroon plans to issue a total of FCFA 320 billion of government securities constituted to 125 billion FCFA BTA, 100 billion FCFA assimilated treasury bonds (OTA) and 150 billion FCFA bond Treasury (OT) to finance structural projects.

In mid-August the president of the Republic, Paul Biya , authorized the government to negotiate and possibly conclude , during the current fiscal year on terms safeguarding the financial interests of the country and its economic and political sovereignty , concessional and non-concessional borrowing overall amounts of 500 and 1200 FCFA billion respectively .

This act of the head of state by amending and supplementing certain provisions of Cameroon’s Finance Act 2015 stopped in revenue and expenditure in 3,746,600,000,000 FCFA.