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Bond Market News
Senegal’s Dollar Bonds Fall As IMF Awaits Clarity on $7bn Fiscal Gap
June 13, 2025
The IMF is awaiting the final audit results on Senegal’s $7bn fiscal gap before initiating discussions on a fresh package with the new government. This comes after Senegal’s $1.8bn program in October was suspended by the IMF, after it found out that the previous administration had misreported debt and budget deficit data. Senegal’s debt burden stood close to 100% of GDP in 2023, with a budget deficit of 12.3% that year. Senegal still faces outstanding financing needs of around $2bn. While the government had hoped to begin negotiations by April and secure funding by end-June, the IMF has stated that there is currently no fixed timeline for a new program.
Senegal’s 6.25% 2033s were down by 2 points to trade at 68.93 cents on the dollar, yielding 13.27%.
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