A critical analysis of the management of Louis Paul Motaze, the current Minister of Finance of Cameroon, reveals a considerable increase in public debt over the past 19 years. According to this analysis, Cameroon's debt has increased almost seventeenfold since Motaze began holding strategic ministerial positions in 2007. This debt has risen from 900 billion FCFA in 2007 to 15,000 billion FCFA in 2026.
Louis Paul Motaze has held various key positions in the Cameroonian government, including Minister of Economy, Planning and Regional Development (MINEPAT) on several occasions, as well as Secretary-General of the Prime Minister's Office. He has been Minister of Finance since March 2, 2018. His long career in government has allowed him to oversee major infrastructure projects and the country's borrowing policy.
Despite official talk of Cameroon's economic emergence, basic infrastructure remains deficient, with persistent water and electricity shortages. The country has to resort to a fourth adjustment program with the International Monetary Fund (IMF), involving loans conditional on structural reforms, often synonymous with budget cuts and tax increases.
Cameroon's massive investment strategy, financed by debt, raises questions about its effectiveness and social profitability. Striking examples, such as the high cost of building a kilometer of highway, fuel criticism of the management of public spending. Official justifications, such as the fight against Boko Haram and the unfavorable international situation, are challenged by regional comparisons.
As Cameroon prepares for a new program with the IMF, budgetary austerity measures are expected, potentially impacting social spending and public investment. The question of debt sustainability is becoming acute, as continued debt growth without inclusive economic benefits could lead to over-indebtedness and compromise the country's economic sovereignty. Some experts note that Cameroon plans to borrow 3,104 billion FCFA in 2026, while it has 5,642 billion available but unused, highlighting an inability to turn these resources into concrete projects. As of the end of September 2025, Cameroon's public debt represented 43.9% of GDP.
