Senegal's $44B Debt Map
Senegal is experiencing a severe debt crisis, with debts reaching $44 billion by the end of 2025. The government is working to address this crisis in the coming months to secure new funding from the International Monetary Fund. Problems began with the disclosure of inaccurately covered debts in 2024, which led to the debt-to-GDP ratio rising to about 130%, resulting in the freezing of IMF support and reduced access to international markets. The government aims to extend repayment periods or reduce interest rates, while also needing to settle overdue payments that totaled approximately $3.42 billion by March 2025. Senegal's main lenders are France and China. Most of the external debt is contracted through traditional means; however, untested financing instruments and export loans may complicate the restructuring process. Credit rating agencies anticipate that the heavy burden of domestic debt and untested borrowing options will put additional pressure on Senegal’s ability to repay its debts, amid ongoing debates over how to protect lenders’ interests during this crisis.
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