The Daily Docket — Wednesday 11 November: Senegal committee rejects Foreign Affairs and Public Service budgets

Wednesday, 11 November 2026 · Coverage to about 00:35 ET, Wednesday 11 November · By Sovereign Creditor Review Staff
Desks: Venezuela · Cuba & Title III · Senegal · Ethiopia · Other

1. Bottom line

1. Senegal: on Tuesday 10 November the Assembly's finance committee rejected the 2027 budgets of the Foreign Affairs ministry and the Public Service ministry, according to Assembly accounts reported by Seneweb and Ndarinfo. No plenary date and no IMF Board date for the USD 2.2bn ECF have been announced.
2. Venezuela: the fourth round of talks between the government and the 2015 National Assembly delegation is due to begin on Friday 13 November, sources told EFE (Infobae/EFE); no official convocation or agenda has been published.
3. Nothing else moved: no OFAC action on 10 November; GL 5AA not replaced; no Third Circuit ruling on the PDV Holding sale; no new filing in Petersen (No. 26-442); London: No new public filing.

2. Top story: Senegal committee rejects Foreign Affairs and Public Service budgets

The Assembly's finance and budget control committee rejected two more 2027 ministry budgets on Tuesday 10 November. Sitting with the foreign affairs committee, it did not adopt the budget of the Ministry of African Integration, Foreign Affairs and Senegalese Abroad, set at FCFA 77.9bn in commitment authorisations and FCFA 75.3bn in payment appropriations. According to the Assembly's account, members expressed reservations about the sincerity and reliability of the revenue and expenditure forecasts (Seneweb; SeneNews).

The same day a majority of the committee voted against the budget of the Ministry of Public Service, Labour and Public Service Reform, presented by Minister Mamadou Lamine Dianté, at FCFA 12.8bn. Ndarinfo reported that members cited inconsistencies in the figures, low execution of some programmes and doubts over the sincerity of the forecasts, and regretted what they called a lack of transparency in preparing the bill.

Those votes follow the committee's rejection of the bill's revenue and public-debt provisions and institutions' budgets on 7 November, and of the Industry and Commerce, Higher Education, Health, Family and Culture budgets on 7 to 9 November. Ndarinfo noted that a committee rejection is not a final rejection: the finance bill still goes to plenary, and the Assembly has a 60-day constitutional period from the bill's 12 October filing to decide. No government statement on the 10 November votes had been found by the time of writing.

Who is affected: Eurobond holders and other external private creditors, commercial-bank lenders, official bilateral creditors and domestic suppliers owed arrears. Next trigger: Plenary vote on the 2027 bill, no date announced; end of the Assembly's 60-day examination period, around 11 December; IMF Board date for the USD 2.2bn ECF, no date set.

3. What changed

• 10 Nov · Senegal (Assembly): Finance committee rejects the Foreign Affairs and Public Service ministries' 2027 budgets (Seneweb; Ndarinfo).
• 10 Nov · Venezuela (talks): Fourth round due to begin 13 November, according to sources cited by EFE (Infobae/EFE; El Pitazo).
• 10 Nov · Venezuela (PDVSA suppliers): The PDVSA Commercial Creditors Committee said it awaits an official claims-reconciliation mechanism and restructuring framework, per Bloomberg Línea.

4. Desk notes

Venezuela. Sources linked to the talks told EFE the fourth round between the government delegation, led by Jorge Rodríguez, and the 2015 National Assembly delegation, led by Dinorah Figuera, is due to start on Friday 13 November; El Pitazo noted that the round had not yet been formally convened and its agenda was not public (El Pitazo). Bloomberg Línea reported that Figuera said on 8 November the agenda would include renewal of the National Electoral Council (Bloomberg Línea). In a statement on 10 November, the PDVSA Commercial Creditors Committee said it expects an official announcement of a mechanism to reconcile supplier claims and a framework to turn uncertified receivables into audited instruments, Bloomberg Línea reported; the committee's "National Capital" launch is set for 17 November. OFAC's GL 5AA authorizes, on or after 18 December 2026, transactions related to, the provision of financing for, and other dealings in the PDVSA 2020 8.5% bond that E.O. 13835 would otherwise prohibit (OFAC GL 5AA). No Third Circuit ruling on the PDV Holding sale appeals (No. 25-3347) has been found (CourtListener). Next trigger: Fourth round of talks, from 13 November; PDVSA Commercial Creditors Committee launch, 17 November; GL 5AA date of 18 December 2026.

Cuba & Title III. No new OFAC Cuba action since 5 November; no new Title III ruling found. London: No new public filing. Next trigger: BICSA wind-down under OFAC FAQ 1276 ends 14 November.

Senegal. See Top story.

Ethiopia. No change; the consent solicitation for the USD 1bn 6.625% Eurobond has not been launched.

Other. Argentina: no new filing in No. 26-442 since the 2 November amicus briefs; responses due 2 December 2026 (Supreme Court docket). No new IMF press release found for Senegal, Ethiopia, Ukraine, Zambia, Ghana, Sri Lanka or Lebanon.

5. Sanctions and markets

• OFAC (US): No new action on 10 November; latest is the 9 November Iran update; no new Venezuela GL after GL 5AA of 4 November (OFAC).
• UK: UK Sanctions List updated 10 November with three Russia-regime variations; no Venezuela or Cuba change (GOV.UK).
• EU: No new Council notice on Venezuela or Cuba found in the coverage window.
• Markets: No new sourced price reported.

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