Senegal: Debt restructuring announced after hidden debt crisis
Senegal has reached a staff-level agreement with the IMF for a $2.2 billion credit facility, contingent on restructuring its public debt following a 2024 audit that revealed significant misreporting. The country faces economic challenges, including high interest payments and political friction regarding reform implementation.
Why it matters
Senegal's debt crisis and subsequent restructuring efforts are pivotal for the economic stability of the West African region.
11/09/2026 Filed under Country news share article Event On 1 September 2026, the Senegalese authorities and the IMF reached a staff-level agreement on a 36-month IMF Extended Credit Facility of about USD 2.2 billion, under which the country will seek to restructure its public external debt through an enhanced version of the G20 Common Framework. The IMF’s final approval remains conditional on sufficient corrective action on debt management, fiscal reforms and firm financing assurances from Senegal’s creditors. The IMF will first need to finalise a Debt Sustainability Analysis on Senegal to determine how much debt relief is needed for the country to regain a sustainable debt position over time.
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