Cheikh Tidiane Dièye sur les révélations du Times : « Aucun emprunt n’a été caché »
The topic is on everyone's lips. According to an investigation published on March 23 by the British daily Financial Times, Senegal allegedly secretly contracted loans amounting to €650 million from international institutions. This debt, deemed "hidden," was contracted under "opaque" conditions (without informing Parliament) through the Total Return Swaps mechanism with the Africa Finance Corporation and First Abu Dhabi Bank, and is believed to have been used to avoid an imminent default.
Taking the opportunity, the Minister of Water Resources and Sanitation, Cheikh Tidiane Dièye, points to a "biased" article and launches a scathing attack on the opponents who want to make a scandal out of it.
“Yesterday, some were saying that Senegal would default and would not be able to honor its commitments. Senegal paid. On time. And in style,” he wrote in a post on the social network X.
“Today, the same people are clinging to an unbalanced, confused and largely biased article in the Financial Times to acknowledge, admittedly, that Senegal has honored its commitments, but by insinuating that it did so thanks to undeclared loans from the market or the IMF. That’s all,” adds Cheikh Tidiane Dièye, praising the “resilience” and “extraordinary creativity” that the government has shown in the face of “a suffocating debt inherited from the previous regime.”
Cheikh Tidiane Dièye is clear on the matter: "No loans have been hidden." According to him, "everything was planned in the Medium-Term Debt Management Strategy (MTDS), included in the finance laws and approved by the National Assembly."
According to the minister, the market operations carried out "are included in the 2025 financing plan," even though the Times and some Senegalese political figures, including members of parliament, maintain the contrary. "The financial instruments used, particularly Total Return Swaps, as well as the mechanisms through which they operate, have been disclosed to Senegal's financial partners, especially the International Monetary Fund (IMF)," he emphasizes, refuting the Times' allegations.
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