Senegal has revised its debt service projections upward by about 3.2 trillion CFA francs ($5.8 billion) over the next three years, as reflected in a new budget document released.
The Government, which is contending with billions in unreported debt inherited from the previous Administration, now expects total payments on principal and interest for 2026 to reach 5.49 trillion CFA — an increase of over 11% from June’s estimates.
For 2027, projected debt service has risen by nearly a third to 4.41 trillion CFA, while 2028’s figure has surged by nearly 50% to 4.97 trillion CFA. The updated document was published ahead of an IMF mission to Senegal scheduled from 22 October to 4 November, amid ongoing negotiations for a new lending programme.
The revision coincides with the IMF and World Bank Annual Meetings in Washington, where Senegal’s finance ministry also sought a waiver linked to the undisclosed debts that led to the suspension of the country’s $1.8 billion IMF programme last year.
Investors are closely monitoring the discussions and the forthcoming IMF debt sustainability analysis, which will determine whether Senegal’s current debt levels are manageable or require restructuring. According to the IMF, the country’s total debt-to-GDP ratio — including central government obligations, state-owned enterprise debt, and domestic arrears — stood at 132% by the end of 2024.