Cameroon : Parliamentarians Frown At Bill Adoption

Cameroon : Parliamentarians Frown At Bill Adoption

Indebting The Country To The Sum Of Over 4000 Billion CFAF Is Frustrating.

Some Parliamentarians on Saturday, June 11, 2021 frowned on the adoption of Bill number 1093/PJ/AN that gives the President of the Republic rights to ratify ordinance No. 2021/2 of 26 May 2021 to amend and supplement some provisions of Law No. 2020/18 of 17 December 2020. In this regards, the President of the Republic on May 26th, 2021 signed Ordinance No. 2021/2 amending the provision of forty-nine and inserting section forty-nine (a) in Law No. 2020/18 of December 2020. In pursuance of the provision of section fifty five of the finance law for the 2021 finance year that was defended by the Minister of Finance Louis Paul Motaze.

To Honorable Cabril Libii, President of Cameroon National Reconciliation Party, authorizing the government to borrow over 4000 billion CFAF when the old debt has not been paid is senseless. In 2015, Cameroon had borrowed the sum of over 3500 billion CFAF.

Five years after when no concrete development has been done, we are called to take another debt to reimburse the first one. He lamented at the Yaounde Conference Center.  It is surprising to see that at the moment, when the country’s debt stands at over 10.000 billion CFAF, half of our national budget or wealth, we are couragous clamoring for more.

This to me is not normal. Corruption and mismanagement will swallow and destroy the new debt if the money is given to Cameroon. He added in total frustration.  According to Honorable Koupit Adamu of CDU party, understanding why the government is engaging in another debt is as difficult as passing a camel through the needle eye. The state has to reduce its expenditure and try to pay its internal debt.

Economic operators today are frustrated because the government has inability to pay them. These business people borrow money from the bank with interest knowing they will pay back immediately the government settles them. But this is hardly done. Thus, killing the operators financially after their equipments must have been seized and auctioned by the National Debt Recovery Company. Honorable Koupit Adamu mentioned. It is high time the government of Cameroon starts taking the interest of the population at heart.

By Takang Bisong

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