US EditionSenegal’s Bonds Fall After PM Resists IMF Calls to Restructure Debt
Senegal's debt exceeds 132% of GDP, limiting options as Prime Minister Sonko refuses IMF restructuring amid a $1.8 billion frozen aid package, analysts say.
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5 Articles
Senegal’s bonds fall after PM resists IMF calls to restructure debt
Senegal’s bonds fell sharply after Prime Minister Ousmane Sonko resisted calls from the IMF to restructure its debt, narrowing the options available to fix the country’s fiscal crisis. Its finances have been under pressure since a government audit last year discovered unreported debt left by the prior administration that is now worth more than $11 billion. It prompted credit-rating downgrades and the IMF to freeze Senegal’s $1.8 billion program.…
Senegal, which is facing a dizzying and unprecedented debt of more than 130 per cent of GDP, is currently examining its new finance law for the year 2026. On the table of the Finance Committee of the National Assembly, the country has until 15 December to adopt this roadmap. The main challenge for Dakar is to reduce the burden of debt and return to fiscal balance, while the country faces a very critical financial situation and has not yet manage…
Senegal joins Gabon and Mozambique in the African trio on the brink of bankruptcy, according to Bloomberg, who gives the information. Senegalese bonds have fallen to new record levels, placing this West African country in financial distress, according to a measure widely regarded as the threshold that excludes nations from global financial markets. Senegal's sovereign risk premium on bonds compared to US Treasury bills has increased to 1,077 bas…
IMF, Senegal Discuss Options to Tackle Debt - Voice of Nigeria Broadcasting Service
The International Monetary Fund said on Tuesday it had discussed various options with Senegal to address the country’s “significant debt vulnerabilities,” adding a decision on whether to overhaul the debt rests with the government. The IMF froze a $1.8 billion financial support package for the West African economy last year after a then-new government disclosed hidden debts that are now estimated at more than $11 billion. Prime Minister Ousmane …
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