Senegal’s ministry of economy, finance and planning on Tuesday issued a statement rejecting comments made two days earlier by Trade Minister Serigne Gueye Diop which indicated that the government could be ready to restructure its debts if necessary.
The statement, sent to international investors, said Diop’s remarks “merely reflect personal views and should not be construed as representing the official position of the Government of Senegal.”
The West African country’s finances have been in crisis since the 2024 discovery of billions of dollars in debt that were misreported by the previous government.
The International Monetary Fund (IMF) froze its lending programme over the discovery and the two sides have been discussing a new programme since. The Fund’s mission chief visited last week.
Senegal opposed to restructuring
Apart from Diop’s comments, Senegalese authorities have publicly opposed a restructuring. They approached the IMF visit still reluctant to accept one, two sources told Reuters, citing domestic political opposition.
Then-Prime Minister Ousmane Sonko said in November that the IMF had proposed one, and called the proposal “a disgrace.”
Some investors believed Sonko’s dismissal as prime minister last month would help clear the way for a debt overhaul.
Many also expected more aligned messaging from the government after the finance and economy ministries were combined last month.
