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Senegal’s Debt Restructuring Plan Faces Delays Amid Creditor Concerns
October 14, 2026
Senegal’s plans to complete its debt restructuring and secure a $2.2bn IMF program by the end of 2026 are facing delays. According to sources, an independent audit of the country’s liabilities remains incomplete, making IMF approval before year-end difficult. Separately, a group of bondholders, including BlackRock, VR Capital and Farallon Capital, has warned that imposing losses on creditors could prolong the restructuring process. The creditors have proposed extending the maturities of Senegal’s Eurobonds without reducing their principal amounts or average coupon payments. However, the IMF’s debt sustainability analysis will determine the extent of debt relief required. The government also wants to negotiate with official and private creditors simultaneously, which could face resistance. Separately, Senegal is seeking to exclude CFA franc-denominated debt from the restructuring. Senegal’s total debt stood at $48.4bn at the end of 2025, equivalent to 105% of GDP.
Senegal’s bonds traded stable with its 6.25% 2033s at 51.7 cents on the dollar, yielding 19.6%.
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– Ritish G
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