This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Senegal Plans to Raise $10bn by 2028
August 4, 2025
Senegal plans to raise nearly $10bn over the next three years through tax hikes, spending cuts, and energy contract renegotiations to address a growing debt crisis. Prime Minister Ousmane Sonko emphasized self-reliance and stated that 90% of the funds will be sourced domestically. Measures include cutting subsidies and taxing goods & services like mobile-money transfers of about XOF 5.7tn ($9.9bn). The crisis intensified after $7bn in hidden debt was uncovered from the previous regime, which led to the IMF suspending its $1.8bn program and S&P downgrading Senegal’s credit rating. To regain investor confidence, Senegal is targeting a 3% budget deficit by 2027 and is also focusing on high-impact spending. The IMF will begin talks next month on a new support program, contingent on Senegal’s credible fiscal recovery plan.
Senegal’s 5.25% 2033s were down by 0.6 points at 74, yielding 11.96%.
For more details, click here.
Go back to Latest bond Market News
Related Posts:
Credit rating boost for Ireland & Portugal: EU inches towards recovery
September 20, 2017
China Refutes S&P Downgrade Action
September 26, 2017
Mongolia’s Credit Ratings Upgraded to B3 by Moody’s
January 19, 2018
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.