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Bond Market News
Senegal’s Dollar Bonds Trade Weaker
May 22, 2025
Senegal’s dollar bonds traded weaker by nearly 2 points. While there was no specific update regarding the economy or its finances, reports noted that an ex-mining minister became the third member of the country’s former government to be charged due to corruption. She was accused of embezzling more than $330,000 from an aid fund intended for miners affected by the COVID-19 pandemic. This was the third such corruption charge in as many days. Senegal has been impacted since late-2024 after the IMF suspended Senegal’s $1.8bn financing program following an audit that uncovered significant underreporting of public finances by the previous administration. In April, the multilateral lender said that it will take until at least May to decide any new policy programmes with regard to Senegal. However, there has been no update in this regard.
Senegal’s 6.25% 2033s were down by 2 points, trading at 72 cents on the dollar, yielding 12.4%.
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