Cameroon to raise €490 million on financial markets in 2015
The government wants to finance a CFAF925 billion investment plan.Cameroon plans to raise CFAF320 billion (€488 million) in Treasury bonds and medium-term bonds in 2015 to finance infrastructure projects, said Minister of Finance Alamine Ousmane Mey on January 5th, quoted by Reuters.
These bonds are expected to finance part of the CFAF925 billion investment plan launched last December by the government to stimulate the Cameroonian economy.
It includes large-scale investment projects such as transportation and energy infrastructure.
The country wants to achieve a 6.3 per cent growth this year, up from 5.8 per cent in 2014.
The government had issued a CFAF6 billion
on the market of the Bank of Central African States (BEAC).
The previous bond issue of Cameroon dates back to December 2013. It was issued on the domestic financial market to raise CFAF50 billion.
The government has issued a total of CFAF280 billion on financial markets in 2014 and CFAF250 billion in 2013.