Render The Debt More Productive

Contracting a loan is but a normal thing for individuals and structures, government inclusive. In fact, in a world where no one or country is an island and where none can claim to have all he needs, giving out what you have to get what you need is but an obvious trend of life. 
That Cameroon’s outstanding debt has grown by FCFA 309 billion this year to stand at FCFA 10,687 billion, as reported by the country’s Autonomous Sinking Fund in its latest publication speaks volumes, at first sight, of an economy that wants to stay afloat amidst global economic challenges. The fact that Cameroon succeeds in borrowing tells of her faithfulness in refunding old debts; a comportment which reinforces the country’s credibility in the eyes of her creditors; both bilateral and multilateral partners. 
Regime apologists have time and again hailed the level of indebtedness arguing that Cameroon is far below the debt threshold fixed by the Central African Economic and Monetary Community (CEMAC) which is 70 per cent of the country’s Gross Domestic Product. Existing statistics show that the FCFA 10,687 billion Cameroon’s overall debt represents 44.4 per cent of her GDP at moment. This probably explains why those vested with the powers to oversee the national economy tell anyone who cares to listen that the country’s debt is sustainable. Simply put; that Cameroon has not yet crossed the red line. 
What however remains worrying to many a citizen and keen observers of the national economy is what is done with the borrowed money. There are fears that focus is more on not going closer or surpassing the 70 per cent threshold rather than on where the money is put. A loan is rationally perceived as a seed that is acquired and sown to feed the farmer and pay back the fabricator. If the borrowed money is squandered or put into unproductive activities, then the borrower would have difficulties refunding. In the worse of cases, he would be forced to contract another loan to pay back an existing one. Robbing Peter to pay Paul, one would say!
It therefore pays to render the country’s debt productiv...



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