📝 Executive Summary
Cameroon's sovereign bonds experienced a sharp decline as President Paul Biya's prolonged absence from public view raised alarm over political succession. The uncertainty has prompted investors to demand higher risk premiums, reflecting fears of instability in the Central African nation. Without clear leadership or a transition plan, bondholders fear disruptions to fiscal policy and governance. The sell-off underscores the fragility of frontier market debt when political risk re-emerges.