Cameroon’s Debt: How Much Has the Country Borrowed in 2026?

Cameroon has continued to raise new financing in 2026 as the government seeks to fund infrastructure projects, meet budget financing needs and manage existing obligations, with the country’s public debt reaching 15.607 trillion CFA francs by the end of June, according to the Autonomous Amortization Fund.

The debt stock represented 44.2% of gross domestic product at the end of June, up from 14.409 trillion CFA francs a year earlier. The increase was driven in part by new borrowing commitments during the first half of the year.

But the amount Cameroon has borrowed in 2026 cannot be reduced to one figure because the government has authorised borrowing, signed loan agreements and raised money on domestic markets at different points during the year.

In January, President Paul Biya authorised the Finance Ministry to contract up to 1.65 trillion CFA francs in domestic and external borrowing.

The authorisation included 400 billion CFA francs through Treasury securities, 250 billion CFA francs through direct loans from private domestic institutions and up to 1 trillion CFA francs from international financial markets. The funds were intended to finance development projects and clear outstanding payments.

That 1.65 trillion CFA franc figure, however, represents an authorised borrowing ceiling, not money already borrowed or disbursed.

By the end of June, the government had raised 800.7 billion CFA francs on the domestic financial market, according to figures from the CAA.

The government also contracted new project financing during the first half of the year. Data reported from the CAA indicate that new debt commitments reached about 514 billion CFA francs during the first six months of 2026.

Among the major financing operations was a 130.4 billion CFA franc loan for construction of the Ebolowa-Akom II-Kribi road. The agreement was signed in May, with the Standard Chartered Bank loan guaranteed by UK Export Finance. A separate 7.8 billion CFA franc commercial loan had already been concluded for the same project.

Cameroon has continued borrowing in the second half of the year.

On Oct. 2, the government authorised a €347.5 million World Bank loan, equivalent to roughly 228 billion CFA francs, to finance the Douala-Bangui Economic Corridor.

A separate financing agreement of about €212.35 million, or roughly 139 billion CFA francs, was also authorised for rehabilitation of the Douala-Bafoussam road.

Those latest agreements alone represent roughly 367 billion CFA francs in additional authorised project financing.

The government’s borrowing plans extend beyond individual projects. Cameroon’s 2026 budget provides for 3.104 trillion CFA francs in borrowing and other financing needs, against a total budget of 8.816 trillion CFA francs. The financing requirement includes funding for the budget deficit, debt repayments and other obligations.

At the same time, Cameroon is spending heavily to service existing debt.

The country paid about 1.059 trillion CFA francs in debt service during the first six months of 2026, according to figures reported from the IMF and CAA.

The debt pressure has attracted renewed attention from the International Monetary Fund.

Following a September mission, the IMF said Oct. 1 that Cameroon’s debt sustainability analysis remained at high overall risk of debt distress, while describing the debt as sustainable over the medium term. The Fund called for tighter fiscal policy, stronger domestic revenue mobilisation and greater use of concessional financing.

The IMF has also warned that Cameroon faces significant liquidity pressures, including large debt repayments and increasing reliance on commercial borrowing. In its 2026 Article IV assessment, the Fund said the government should exercise caution with borrowing because of tight liquidity and saturation of the regional domestic debt market.

For Cameroon, therefore, the central question is no longer simply how much the government is authorised to borrow.

It is how much has actually been raised, how much has been disbursed, what the borrowed money is financing, at what cost and how much the country must repay.

With public debt already above 15.6 trillion CFA francs, the distinction is increasingly important as the government continues to finance major infrastructure projects while servicing obligations accumulated over previous years.