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Bond Market News
IMF Studies Various Options for Senegal, Says Debt Restucturing Decision Would be a Sovereign Call
November 12, 2025
The IMF said that it had explored various options with Senegal to help them tackle “significant debt vulnerabilities”. It emphasized that the decision to pursue a debt restructuring would ultimately depend on the government, which will be followed by an upcoming debt-sustainability analysis. Senegal’s Prime Minister Ousmane Sonko recently said that he was not in favor of debt restructuring plans. He argued that while a restructuring could provide short-term relief, it would damage investor confidence, limit Senegal’s ability to borrow abroad, and label the nation as being near bankruptcy. However, according to analysts, Sonko’s rejection of restructuring narrows the country’s financing options, potentially forcing reliance on domestic borrowing and spending cuts. They added that such measures could have economic and social consequences. The IMF views its role as providing expert analysis and advice on the policy choices available. The stance by the Prime Minister triggered a selloff of Senegalese euro and dollar bonds. The IMF’s recent talks with Senegal ended without a new deal, albeit with plans to continue discussions.
Senegal’s 6.25% 2033s were trading lower by 0.4 points at 65.8, yielding 14.6%.
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