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Bond Market News
Senegal Sees New IMF Deal by June After Audit Review
February 17, 2025
Senegal expects to reach an agreement on a new lending program with the IMF by June after an audit established the nature of its public finances. Talks with the IMF for a new loan could start in March or April, with the aim of having a new program in place before the second half of the year. Senegal’s debt-to-GDP has been recalculated to be 99.7% in 2023 from 65.6% in 2019. Budget deficit was estimated at 12.3% of GDP in 2023, compared with the 4.9% previously reported. Discrepancies in public finances were revealed in a preliminary audit last year. Senegal was downgraded by a notch to B1 by Moody’s in October last year.
Senegal’s bonds were trading stable with its 6.75% 2048s at 68.8, yielding 10.38%.
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