Cameroon makes EUR 685 million issuance iclg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iclg.com Daily Mail and Mail on Sunday newspapers.
(Business in Cameroon) - The new economic and financial program being negotiated by Cameroon and the IMF could be submitted for the IMF Executive Board s approval in June 2021. This is the estimate presented by the Autonomous Sinking Fund (CAA in its recent report on the country’s debt.
Following authorities will to conclude a new economic and financial program with the IMF, preliminary discussions on the economic memorandum are ongoing between the technical teams, pending the official negotiations aimed at finalizing the terms of the program to be submitted, in June 2021, for the IMF executive board’s approva
l, the CAA writes.
Globeleq to sell its about XAF83 bln receivables owed by ENEO
(Business in Cameroon) - Through its local subsidiaries Kribi Power Development Corporation (KPDC) and Dibamba Power Development Corporation (DPDC), independent power producer Globeleq commissioned BGFIBank Cameroon to arrange the restructuring of the debt it is owed by electric utility ENEO. Estimated at XAF83 billion, this debt represents the unpaid energy bills accumulated by ENEO between 2015 and 2020.
In 2020, ENEO promised to pay, within 48 months, its debt towards the power producer that supplies a significant portion of the distributed energy (in 2019, Globeleq supplied 17% of the power distributed by ENEO). Globeleq is not intent on waiting for that deadline revealed by ENEO’s management. The power producer indicates that such an amount is essential for its operations. According to the figures published by Globeleq, the XAF83 billion debt exceeds by about XAF20 billion both KPDC and DPDC’s cumulat