According to a document released by the Autonomous sinking fund of Cameroon (CAA),the country's short term debt by May 31st 2017 stood at 7.6% of stock reserved for exchange in the Bank of Central African states( BEAC) , a bank common to member countries of the CEMAC sub region.
A local news paper EcoMatin reports that this constitutes a major risk for the country's economy should in case the reserve is insufficient due to decline in revenue from export.
The document of the CAA adds that, the present world economic crisis makes the risk very high even though Cameroon is a modest producer of petroleum products and petrol constitutes 47% of Cameroon's revenue added to Cocoa. But the market situation of these two raw materials is not encouraging at all with the drastic drop in their prices in the world market.
Apart from the hike in prices witnessed in the first quarter of 2017, the price of black goal dropped by late May and early June 2017 reaching its lowest level ever since November 2016.
Globally, since the start of this year, the price of a barrel of petrol has fallen by 20.8% and analysts remains very pessimistic on the measures taken by OPEC member countries to avert the situation.