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Senegal defies downgrade to raise $232 million in bond auction

Dakar, Senegal. © Pexels
Dakar, Senegal. © Pexels

Brandon Orion Mensah

Brandon Mensah tracks Africa’s markets, uncovering the forces shaping investment, policy, and financial trends.
  • Senegal raises $232mn in local bonds despite credit downgrade and debt misreporting concerns
  • Government to unveil fiscal consolidation plan on August 1 as IMF talks continue

DAKAR, SENEGAL – Senegal has raised 132 billion CFA francs ($232 million) in a local bond auction, pressing ahead with its borrowing strategy despite a sovereign credit downgrade and mounting scrutiny over undisclosed public debt.

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