Biya’s health crisis is starting to alarm investors

Cameroon is getting hammered by bond investors after a credit downgrade. Having a nonagenarian leader with no public succession plan doesn’t help.

Yields on the oil-producing West African nation’s 2033 eurobonds have been climbing for five days to more than 11%, the highest since the securities were issued in January.

For the first time ever, Cameroon now pays more to borrow than lower-rated neighbor the Republic of Congo for similar-maturity debt.

Source: Bloomberg