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Bond Market News
Senegal’s Prime Minister Rejects the Idea of a Restructuring
November 10, 2025
Senegal’s Prime Minister Ousmane Sonko rejected the idea of restructuring the nation’s debt, emphasizing the government’s goal to safeguard financial sovereignty and maintain access to international markets. He argued that while a restructuring could provide short-term relief, it would damage investor confidence, limit Senegal’s ability to borrow abroad, and label the nation as being near bankruptcy. Earlier this year, the IMF had suspended Senegal’s previous $1.8bn program, triggered by the discovery of misreported debt figures under the former administration. With the IMF’s facility still frozen, Sonko said that the government will focus on domestic revenue mobilization instead of external relief, by imposing new taxes on tobacco, alcohol, gambling, and mobile money while protecting citizens from higher living costs. The remarks came shortly after the IMF’s talks with Senegal ended without a new deal, albeit with plans to continue discussions.
Senegal’s 6.25% 2033s were up by 1.6 points, trading at 69.9, yielding 13.3%.
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