Paul Biya’s former economic advisor, now an ally of Maurice Kamto, national president of the Cameroon Renaissance Movement (Mrc) and fierce opponent of the old lion, talks about Cameroon’s debt situation.
In a post on his Twitter account this Tuesday, April 6, 2021, Cameroonian economist Christian Penda Ekoka, talks about Cameroon’s debt situation at the moment. ” Regarding the new borrowing in eurobonds authorized by the PR, the most worrying, in addition to the onerous conditions of these bond issues on the financial markets, is the infernal cycle in which Cameroon commits new debts to refinance the old ones. », Posted the former economic adviser of the old lion.
Maurice Kamto’s ally, the national president of the Cameroon Renaissance Movement (Mrc), believes that credit does not create added value. ” By the same token, revealing the inability of these credits to create wealth to ensure their service. Unsurprisingly, however, in a 2015 note to the PR, we alerted it to the danger of non-performing debts, which constitute a mortgage. on the life of future generations », He continued.
Potable water
« Because financing white elephants and prestigious projects (stadiums for example), and not infrastructure so badly lacking (energy, drinking water, roads, hospitals, internet, etc.).», He underlined. Subsequently, he explains that if nothing is done so far, the country’s situation will go from bad to worse.
« Whatever the official speech may say, the country’s situation will worsen over the next few years, and with it its insolvency, given the sluggish growth in perspective, which turns out to be well below official forecasts. It would be criminal to say “We won’t be here anymore », He concluded.
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