Debt Crisis in Senegal: 191 Personalities Reject Agreement with IMF
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The country has entered into a financing agreement with the IMF, allowing it to avoid a default for the moment. Dakar will now renegotiate its debt within the common framework of the G20. But the authorities prefer to talk about debt reorganization rather than restructuring. The bonds have a discount of 50%.
Standard & Poor's downgraded Senegal's foreign currency credit rating to 'C' from 'CCC+', warning that the government's planned debt restructuring could lead to losses for foreign creditors and noting that the likelihood of default on foreign currency commercial debt has become very high. This move comes at a time when Senegal is facing financial pressures […] The article “Standard & Poor's downgrades Senegal due to debt restructuring risks” was…
On Friday, September 4, 2026, the S&P (S&P) Financial Rating Agency (S&P) significantly degraded Senegal's sovereign debt rating from "CC+" to "CC", while that of the local currency debt is lowered to "CCC". Both ratings are accompanied by a negative outlook. This decision comes a few days after the conclusion of a new agreement between Dakar and the International Monetary Fund (IMF), as well as the announcement by the government of a debt treat…
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