Cameroon kept borrowing through 2026 to fund infrastructure projects, cover budget financing needs and meet existing obligations. By the end of June, the country’s public debt had reached 15,607 billion CFA francs, according to the Autonomous Amortization Fund (CAA).
That outstanding debt represented 44.2% of gross domestic product at the end of June, up from 14,409 billion CFA francs a year earlier. The increase stems partly from new loan commitments taken on during the first half of the year.
The amount Cameroon borrowed in 2026 cannot be reduced to a single figure, however, because the government authorized loans, signed loan agreements and raised funds on domestic markets at different points in the year.
In January, President Paul Biya authorized the Ministry of Finance to contract domestic and external loans worth up to 1,650 billion CFA francs. The authorization covered the issuance of Treasury securities worth 400 billion CFA francs, direct loans from private national institutions worth 250 billion CFA francs and fundraising on international financial markets worth 1,000 billion CFA francs. The funds were intended to finance development projects and clear payment arrears.
That 1,650 billion CFA franc figure is a 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 CAA data.
The government also took on new project financing in the first half of the year. CAA data show that new debt commitments reached about 514 billion CFA francs during the first six months of 2026.
Among the main 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 commercial loan of 7.8 billion CFA francs had already been arranged for the same project. Cameroon continued borrowing in the second half of the year.
On October 2, the government authorized a 347.5 million euro World Bank loan — about 228 billion CFA francs — to finance the Douala-Bangui economic corridor.
Another financing agreement, worth about 212.35 million euros (nearly 139 billion CFA francs), was also approved for rehabilitation of the Douala-Bafoussam road.
Together, those later agreements represent about 367 billion CFA francs in additional authorized project financing.
The government’s borrowing plans go beyond individual projects. Cameroon’s 2026 budget provides 3,104 billion CFA francs for loans and other financing needs out of a total budget of 8,816 billion CFA francs. Those financing needs cover the budget deficit, debt repayment and other obligations.
The country spent about 1,059 billion CFA francs on debt service in the first half of 2026, according to figures from the IMF and the CAA.
That debt pressure has drawn renewed attention from the International Monetary Fund.
After a mission in September, the IMF said on October 1 that its debt sustainability analysis for Cameroon continued to show a high overall risk of debt distress, while describing the debt as sustainable over the medium term. The Fund called for stricter fiscal policy, stronger domestic revenue mobilization and greater use of concessional financing.
The IMF also warned that Cameroon faces significant liquidity strains, notably because of high debt repayments and growing reliance on commercial borrowing. In its 2026 Article IV assessment, the Fund stressed that the government needed to borrow prudently given tight liquidity and saturation of the regional domestic debt market.
For Cameroon, the central question is no longer simply how much the government is allowed to borrow.
It is about how much has actually been raised and disbursed, what the financed projects are, what the loans cost and how much the country will ultimately have to repay. With public debt already above 15,600 billion CFA francs, that distinction is growing more important as the government continues to fund major infrastructure projects while servicing obligations built up over previous years.