Senegal to outline debt restructuring plan to external creditors on Oct. 6

On Oct. 6, Senegal will hold a virtual conference, chaired by International Monetary Fund staff, to brief external creditors on its debt-treatment roadmap and ongoing reform programme. The finance ministry set the registration deadline for creditors at 09:00 GMT on Oct. 5, after which IMF and Senegalese officials will present the country's fiscal situation, reform milestones and a timeline for creditor engagement. This is the first formal creditor meeting since Senegal unveiled its debt-treatment plan on Sept. 1 and secured a staff-level IMF agreement for a 36-month $2.2 billion Extended Credit Facility.

The government intends to keep CFA-franc-issued regional market debt outside the restructuring, meaning roughly $4.8 billion of Eurobonds will remain the responsibility of international bondholders and bilateral lenders. Creditors will have the opportunity to ask questions after the presentations. The IMF board’s final approval will hinge on corrective actions for past debt-misreporting and on financing guarantees from creditors.