Senegal’s Minister of Industry and trade, Serigne Gueye Diop, speaking on state television late on Sunday, signalled that \u200cthe country could be willing to restructure its debts.<\/p>\n
<\/p>\n
The West African country’s finances have been in crisis since the 2024 discovery of billions of Dollars in debt that were \u2060misreported by the previous government.<\/p>\n
<\/p>\n
The International Monetary Fund (IMF) froze its lending programme over the discovery and the two sides have been discussing a new programme since.<\/p>\n
<\/p>\n
An IMF team visited Senegal last week, and Diop said the government was approaching negotiations with the Fund “without an ideology.”<\/p>\n
<\/p>\n
“If the \u200csolution \u2060lies in restructuring, the government is ready to do it,” Diop said.<\/p>\n
<\/p>\n
Senegalese authorities had until now publicly opposed a restructuring, which many investors see as \u2060necessary to make the debt sustainable.<\/p>\n
<\/p>\n
The former Prime Minister, who had called restructuring a “disgrace”, was sacked last month.<\/p>\n
<\/p>\n
Senegal’s leaders \u2060approached last week’s IMF visit still reluctant to accept a restructuring, two sources told Reuters, citing \u2060domestic political opposition. The IMF is expected to issue a statement about the visit this Monday.<\/p>\n
<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":37745,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-37744","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Senegal's Minister of Industry and Trade, Serigne Gueye Diop signalled that \u200cthe country could be willing to restructure its debts","published_date":"2026-06-22 16:41:09","news_description":"Senegal's Minister of Industry and Trade, Serigne Gueye Diop signalled that \u200cthe country could be willing to restructure its debts","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/37744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/37744\/revisions"}],"predecessor-version":[{"id":37746,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/37744\/revisions\/37746"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/37745"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=37744"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=37744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}