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Is Senegal drifting towards default as political rift deepens?

Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
  • Bond markets increasingly price in Senegal debt restructuring
  • Government split raises uncertainty over IMF-backed reforms

 

DAKAR, SENEGAL – The unveiling of a new government by President Bassirou Diomaye Faye has opened a rare institutional stand-off in Dakar, sending fresh shockwaves through financial markets already nervous about the country’s mounting debt burden and strained relationship with the International Monetary Fund (IMF).

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