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IMF to Conduct Extended Talks with Senegal Before New Funding
August 28, 2025
The IMF said it will hold further discussions with Senegal’s government on corrective measures to address misreported debt before recommending a new program to its Executive Board. Bloomberg news stated that the new program might take some time to materialise. A one-week IMF mission that concluded on Tuesday, proposed remedial steps, including tighter budget controls, a comprehensive audit of arrears, and consolidating state accounts under a Treasury Single Account.
Senegal which has signaled its intention to seek a new IMF-supported program, will have to pass a review by the IMF’s Executive Board on whether it should reimburse the $700mn disbursed under the suspended facility or be granted a waiver. Earlier, when an audit disclosed $7bn in hidden borrowing, the IMF had suspended their $1.8bn program. This misreporting by the previous administration left Senegal’s debt at 119% of GDP in 2024.
Senegal’s 6.25% 2033s are down by 0.66 points and currently trade at 73.95, yielding 12.03%.
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