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Eurobonds hit record low after IMF visit

Auteur: Seneweb

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eurobond

Following the visit of an International Monetary Fund (IMF) mission to Senegal, led by Edward Gemayel from March 18 to 26, 2025, Senegalese Eurobonds maturing in 2048 recorded a discount of 35% on the London Stock Exchange, with interest rates climbing to nearly 15%, a historic record for the country, reports Jeune Afrique.

The mission aimed to analyze the findings of an audit by the Court of Auditors, published on February 12, 2025, which revealed erroneous statements on budget deficits and public debt under the former Macky Sall administration, estimating the debt at 99.67% of GDP and the deficit at 12.3% in 2023. These revelations, described as "falsifications" by the current government, sparked controversy and led to the suspension of the IMF aid program. While awaiting a possible new agreement, hoped for by the end of June 2025, Dakar faces the urgent challenge of accessing liquidity to stabilize its finances.

Auteur: Seneweb
Publié le: Vendredi 28 Mars 2025

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