Cameroon is currently preparing one of its most significant external financing operations since its January 2026 eurobond. According to the monthly public debt situation report for June 2026, the state intends to raise $690 million, equivalent to nearly 400 billion FCFA, through an ESG-component loan targeting international investors. This operation, however, unfolds amid a political climate that could influence market perceptions, notably marked by the prolonged absence of President Paul Biya – a factor international investors traditionally integrate into their sovereign risk assessments.

The head of state has not been seen publicly since June 7, 2026, when authorities announced his departure for a “brief private stay” in Switzerland. An investigation published on July 30 revealed this absence constituted his longest since assuming power in 1982, sparking renewed speculation within Cameroon regarding President Biya’s health and whereabouts.

Authorities have consistently refuted these rumors. The Communication Minister affirmed that the president is in good health and working from Geneva, where he currently resides. He described information to the contrary as