Senegal Raises $644 Million in Local-Currency Bond Sale

Senegal raised 364 billion CFA francs ($644 million) in a government bond sale in the regional market, the finance ministry said.

The issuance comes on the heels of an audit that showed debt reached 118% of GDP in 2024, higher than previously reported, according to Barclays Plc, leading S&P Global Ratings to downgrade Senegal’s long-term foreign-currency rating to B- on July 14.