Senegal seeks $2.2 billion from IMF before December
By the AFREEQUE newsroom, based on Senego
Senegal is seeking to finalise a partnership with the International Monetary Fund before December, linked to a $2.2 billion package, after a technical agreement was reached on 1 September. Talks on external debt are continuing, according to Sikafinance.
Senegal wants to conclude a partnership with the International Monetary Fund (IMF) before December, involving a $2.2 billion package, after securing a technical agreement on 1 September. Discussions on the external debt, valued at 18,300 billion CFA francs, began on 6 October with creditor committees, Sikafinance reports.
Dakar is aiming to sign agreements and protocols before December, with the partnership to be implemented from January 2027, according to Sikafinance. Debt service due in the fourth quarter exceeds 1,540 billion CFA francs.
The financial negotiations are taking place as the president of the National Assembly, Ousmane Sonko, asked MPs on Monday to adjust subsidies and special funds before the finance bills are examined. The following day, Senegalese euro- and dollar-denominated bonds fell, according to Bloomberg. The bond maturing in 2037 lost 2.166 cents to stand at 48.931 euro cents. The Pastef party holds 130 of the 165 seats in the National Assembly.
The move comes amid social tensions, following UDEN's call for trade union agreements to be implemented, published on 4 October, and the postponement of the start of the school year announced on 7 October. Education Minister Moustapha Guirassy subsequently expressed surprise on 19 October at a three-day school strike.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
