Senegal said it will act swiftly to lower its budget deficit after an audit showing a weaker fiscal and debt position prompted Moody’s Ratings to downgrade the West African nation. The company lowered Senegal’s long-term rating to B1 from Ba3 late on Friday after an audit launched by newly elected[Read More…]
Economy
Senegal PM Vows ‘Corruption’ Probe Into Former Government
Senegal’s Prime Minister Ousmane Sonko on Thursday, September 26 vowed investigations into what he termed “widespread corruption” under the previous administration, accusing it of having fiddled its financial figures. “The policy of unbridled indebtedness (under former president Macky Sall) has led to the use of resources that is not transparent[Read More…]
Gambia’s Debt Increased To D110 Billion
Finance Minister Seedy Keita updated Gambian lawmakers on the nation’s rising debt, which increased from D46 billion in early 2017 to D110 billion by December 2023. The rise was partly driven by the depreciation of the Gambian dalasi, which added D7.56 billion to the foreign currency debt. The Minister highlighted[Read More…]
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