CEMAC Governments Increase Regional Debt Market Borrowing

CEMAC governments increased their borrowing on the regional public securities market in July 2026 despite slightly higher financing costs, with outstanding debt rising 3.34% from the previous month to CFA10.56 trillion. The figure covers government securities issued by Cameroon, Congo, Gabon, Equatorial Guinea, Chad and the Central African Republic, according to data released Aug. 26 by the Bank of Central African States (BEAC). Average borrowing costs edged up to 8.53% in July from 8.29% in June, an increase of 0.24 percentage point. The rise came even as investor participation strengthened and subscriptions covered a larger share of the amounts sought by governments. According to the central bank’s securities settlement and custody unit, participation by primary dealers rose to 22.05% from 20.13% between June and July. The subscription rate also increased, reaching 76.23% from 72.44%. In other words, investors offered to finance just over 76% of the amount governments sought in July, compared with about 72% a month ...