Dakar-Paris : Macron dépêche un émissaire pour réclamer 20 milliards F CFA d'impayés
According to information from Le Quotidien, the Senegalese government is entering March 2026 in a particularly precarious financial position. In just one month, the country must repay 747 billion CFA francs, 221 billion of which are exclusively for Eurobonds, the newspaper reports. The same source emphasizes that any delay in meeting this deadline could be critical, leading to a default, a downgrade of the sovereign credit rating by agencies such as Moody's and S&P, and jeopardizing Senegal's access to international financial markets.
The Treasury's arbitration: the AFD and China "on a diet"
To make matters worse, notes the daily newspaper of the Avenir Communication group, the budget equation is complex. With monthly tax revenues capped at around 360 billion, the state cannot meet all its debts simultaneously. To secure priority payments on Eurobonds, Senegal has opted for a payment hierarchy, temporarily freezing certain bilateral debts.
This strategy is creating diplomatic friction, particularly with France. The French Development Agency (AFD) is demanding 20 billion CFA francs in unpaid debts that have been outstanding for two months. Faced with this impasse, the Élysée Palace dispatched its Africa advisor, Jeremy Robert, to Dakar to mediate with President Bassirou Diomaye Faye and Prime Minister Ousmane Sonko. France is not alone: the China Eximbank, as well as Turkish and British creditors, have also expressed their impatience with the delays.
Sovereignty versus restructuring: the showdown with the IMF
While a front of creditors seems to be aligning itself with the recommendations of the International Monetary Fund (IMF) in favor of a debt restructuring, Prime Minister Ousmane Sonko is firmly opposed to it, seeing it as a direct threat to national sovereignty and a return to structural adjustment policies.
To replenish the Treasury's coffers without giving in to international demands, the government is relying on the Economic and Social Recovery Program (PRES) and "all-out taxation".
Meanwhile, Senegal remains very active in the WAEMU regional market, where the Treasury regularly raises funds. The significant participation of Togolese investors has piqued the interest of many financial observers, adds Le Quotidien.
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