Senegal Bonds Fall as IMF Raises Debt Estimates Amid Loan Talks

Senegal’s dollar bonds fell after the International Monetary Fund calculated the country’s debt at above previous estimates, stoking concerns about its fiscal outlook just as formal talks with the lender on a new program get underway.

The West African country’s liabilities stood at 132% of gross domestic product at the end of last year, including state-owned enterprises, an IMF spokesperson said in a message to Bloomberg. In a recent budget report, the government estimated debt at 119% of GDP — excluding state companies. An audit of the nation’s finances earlier this year calculated the debt at 99.7% of GDP as of 2023.