Also receive offers from The Africa ReportThe reasons given by the rating agencies are the same: the country experienced delays in settling its bilateral debt to, between January and November 2022. Other non-commercial creditors also suffered from this default.
These delays lasted for two weeks on average, and sometimes 18 days while the tolerance threshold is five days after the due date.For S&P, the country’s domestic debt could suffer the same fate, “in the absence of improved cash and debt management practices”. For this reason, it has downgraded its local currency rating fromThis is partly due to its status as a hydrocarbon producer. In a way, Cameroon has been the victim of a scissors effect.
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