Senegal, through the General Directorate of Finance and Debt (Dgfd), held an information meeting this Tuesday, 6 October 2026, with external creditors under the good offices of the International Monetary Fund (Imf). This meeting allowed the authorities to update external creditors on Senegal's economic and financial situation, the economic reform program, and the debt treatment strategy, including the creditor engagement plan, the timeline, and the next steps.
Additionally, the IMF services presented the main outlines of the staff-level agreement reached with the authorities regarding a new Extended Credit Facility (FEC) arrangement, as well as relevant policies and lending frameworks. This meeting with investors is part of the implementation of the Senegal Debt Treatment Plan (Ptds).
This strategy constitutes an appropriate response to the characteristics of Senegal's debt. Before its creditors, the Government of Senegal, represented by the Director General of Finance and Debt, Babacar Touré, emphasized that it intends to pursue the treatment of its debt in accordance with the principles of the G20 Common Framework, while seeking to learn lessons and address the challenges identified in previous cases.
Commitments in this regard involve following an accelerated and predictable schedule for the treatment of their claims, without forgetting the rapid clarification of the key elements underlying the Ptds, including the assessment of contributions. Senegal has set November 2026 as the target deadline for the finalization of the various partnership frameworks with the IMF.
This should materialize with the approval of the program by the Executive Board. In this perspective, a meeting will be held during the month of November.
In December, the State plans to sign agreements in principle with the Official Creditor Committees (Occ) and the ad hoc group of bondholders. Then, Senegal will proceed, in early 2027, to the implementation of the agreements.
Senegal is banking on the PTDS to make its debt viable. It should allow for the sustainable restoration of the public debt profile, bring the weight of debt service on the state budget back to accepted standards in this area, and gradually free up the necessary leeway for financing public investments in priority sectors, particularly social sectors.
Senegal's external debt stock is 18 300 billion FCfa, of which 8500 billion FCfa is owed to development banks. Commercial debt amounts to 5440 billion FCfa and 4369 billion FCfa for bilateral debt.
Published on 07/10/26 08:36. Mouhamadou Dieng