Senegal Holds “Sovereign Right” Over Debt Strategy as IMF Mission Concludes

West Africa WeeklyNovember 13, 20251 Mins read970

The International Monetary Fund (IMF) has reaffirmed that Senegal retains full sovereignty in determining how it handles its debt burden, after a mission to Dakar ended without agreement on a new support programme.

An IMF spokesperson said various options were discussed to help address Senegal’s “significant debt vulnerabilities”, but stressed:

The choice and specific nature of debt operations … remains a sovereign decision.

The firm tone comes amid tensions between the IMF and the government of Prime Minister Ousmane Sonko, who last week ruled out restructuring Senegal’s debt, calling such a move “a disgrace”.

Senegal’s earlier $1.8 billion financing package with the IMF was suspended last year after the government revealed hidden debts that pushed total liabilities above $11 billion.

The fallout has weighed heavily on investor sentiment: Senegal’s dollar bonds plunged to record-low prices this week amid concerns over debt transparency and structural reform.

While the IMF continues technical work, including updating its debt sustainability analysis, a key issue is aligning Senegal’s fiscal and debt management reforms with its policy priorities — all while preserving the country’s autonomy over decisions.