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…]
Economy
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…]
Senegal’s Bonds Drop As IMF Issues Fiscal Deficit Warning
Senegal’s dollar bonds are experiencing a decline after the IMF warned of fiscal deterioration. The yield on Senegal’s 2048 bonds increased due to concerns about the country’s rising fiscal deficit, which has been aggravated by reduced revenues and rising energy subsidies. The IMF’s report urged Senegal to implement reforms to[Read More…]
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