What’s Up with Cameroon’s Debt from China

Introduction

Cameroon finding itself at risk of debt distress is not a new occurrence and is a result of the country’s borrowing habits over several decades. In 2007, public debt was only 12 percent of Cameroon’s gross domestic product (GDP), and by September of 2020 the figure had increased to over 45 percent of the country’s GDP. While much of the recent attention has focused on Cameroon’s Eurobond holdings and multilateral debt, over two-thirds of the country’s debt is external. Out of Cameroon’s external debt, 61 percent is owed to China, making Beijing…