During the month of June 2026, the State spent 29.5 billion FCFA solely on the payment of interest and commissions. This amount represents 9% of the 327 billion FCFA mobilized over the period to honor the global debt service (excluding outstanding payments and Treasury bills), with the balance of 297.5 billion FCFA (91%) used for capital amortization. The monthly expenditure for June exceeds the average monthly expenditure observed over the semester, established around 25 billion FCFA, and represents nearly a fifth of the total financial expenses incurred since the beginning of the year.

The cumulative financial expenses paid over the first six months of 2026 amount to 149.9 billion FCFA, or 14.2% of the global semi-annual service of 1,059.3 billion FCFA. The external debt absorbs 62.9 billion FCFA in June alone (54.9 billion in principal and 8.1 billion in interest), bringing the repayment to international creditors to 444.5 billion FCFA in the first half of 2026, without any payment delays. On the domestic market, internal commitments required 264.1 billion FCFA in June and 614.8 billion FCFA from January to June, with 76.4% drawn from medium and long-term public bonds and securities, excluding Treasury bills whose interest is prepaid upon issuance.

By way of illustration, the financial expenses paid in June represent nearly 60% of the non-structured debt stock, valued at 49.4 billion FCFA at the end of the semester, compared to 51 billion FCFA at the beginning of the fiscal year. However, the sustainability of the national accounts remains under tension due to the stock of administrative arrears awaiting regularization by the Treasury. The outstanding amount of payments due stands at 703.5 billion FCFA at the end of June 2026, of which 588.4 billion FCFA (83.6%) are overdue invoices that have been pending for more than three months. The non-inclusion of unpaid claims in the official calculation of the debt service masks a portion of the pressure exerted on the State's coffers.

In the perspective of future fiscal years, the Economic and Budgetary Programming Document sets a rising trajectory for debt interest, projected at 552.4 billion FCFA for the entire year 2026, then 605.3 billion FCFA in 2027, and 707.8 billion FCFA by 2029. The continued increase in remuneration due to creditors restricts the budgetary margins available for financing public infrastructure and social expenditures, imposing a strict rationalization of the State's budgetary choices.


Nlend Flore

Tags: dette publique cameroun finances publiques intérêts commissions service de la dette économie budget trésor