Cameroon to issue $582 million in debt in 2015

YAOUNDE Jan 5 (Reuters) – Cameroon plans to raise some 320 billion CFA francs ($582 million) through treasury bills and medium-term bonds in 2015 to finance infrastructure projects in the Central African state, the finance ministry said on Monday.

The total issuance is 14 percent higher than the 280 billion CFA francs issued in 2014.

The government said in November that it plans to increase spending by 13 percent this year to boost growth in an economy which produces cocoa, oil and timber.

Gross domestic product is expected to accelerate to 6.3 percent in 2015 from 5.8 percent last year according to budgetary projections.

($1 = 549.3800 CFA francs) (Reporting by Tansa Musa; writing by Bate Felix; editing by Jason Neely)

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