Dakar-Paris: Tensions over 20 Billion CFAF in Unpaid Debt
Dakar is going through a delicate financial period. According to available information, Senegal faces a very heavy repayment schedule starting in March 2026, with 747 billion CFA francs due, including 221 billion for Eurobonds. Any delay could trigger a default and undermine confidence from international rating agencies such as Moody’s or S&P, jeopardizing the country’s access to financial markets.
To manage this pressure, the Senegalese government has decided to prioritize certain payments, particularly those related to Eurobonds, at the expense of bilateral claims. This strategy has sparked diplomatic tensions, notably with France. The French Development Agency (AFD) is demanding 20 billion CFA francs in arrears. In response to this deadlock, the Élysée has sent its Africa advisor, Jeremy Robert, to negotiate with President Bassirou Diomaye Faye and Prime Minister Ousmane Sonko.
While some creditors are calling for debt restructuring through the IMF, Prime Minister Sonko opposes this, citing the need to preserve national sovereignty. The government is relying on the Economic and Social Recovery Program and broader fiscal policies to stabilize public finances.