The International Monetary Fund and Senegal have reached a staff-level agreement on a three-year financing programme worth $2.2 billion, as Dakar faces mounting pressure from high debt levels.
The agreement includes a commitment by Senegal to pursue debt restructuring. The Ministry of Economy and Finance announced its acceptance of restructuring under the Enhanced Common Framework.
The IMF said the agreement was intended to support the sustainability of Senegal's debt, which stood at 132 percent of gross domestic product at the end of 2024. The figure followed a review that uncovered billions of dollars in borrowing that had not been properly recorded in the previous administration's accounts.
