Senegal: debt restructuring, bondholders and timetable

As of 18 October 2026, Senegal is negotiating with official creditors and bondholders and, per Reuters, is targeting agreements in principle by December; no terms have been agreed.

Country file · updated 18 October 2026

Status summary

What is the current status of Senegal’s debt restructuring? As of 18 October 2026, Senegal is negotiating with official creditors and bondholders and, per Reuters, is targeting agreements in principle by December; no terms have been agreed. A bondholder group representing $2.2 billion of Senegal’s $5.2 billion international bonds has appointed Alvarez & Marsal and warned against principal haircuts. An IMF staff-level agreement on a US$2.2 billion ECF (1 September) still awaits Executive Board approval; the IMF says the Board can consider it once official creditors provide financing assurances, and no Board date has been set.

  • Bondholder group: $2.2bn of $5.2bn bonds
  • Group adviser: Alvarez & Marsal
  • IMF: ECF staff-level agreement 1 Sep · Board approval pending, no date set

Key dates

  • Dec 2026 (target) · Senegal — Senegal’s reported target for agreements in principle with official creditors and bondholders. Reported target, not a deadline. Reuters · 6 Oct

Creditor groups & advisers

Reuters reported on 13 October that holders representing $2.2 billion of Senegal’s $5.2 billion international bonds chose Alvarez & Marsal as financial adviser and warned against principal haircuts. These are negotiating positions, not agreed terms.

Process and perimeter. Reuters’ 6 October report described a December target for agreements in principle with official creditors and bondholders, with CFA-franc debt excluded and total-return swaps in scope for contributions.

IMF programme. On 1 September 2026 IMF staff and Senegal reached a staff-level agreement on a 36-month Extended Credit Facility of about US$2.2 billion (SDR 1,537.1 million), subject to Board approval, corrective actions on the misreporting case and financing assurances from Senegal’s partners (IMF press release 26/282). As of 18 October no Board date had been set. On 15 October the IMF’s African Department director said the programme can go to the Board once Senegal’s official creditors provide financing assurances on the debt treatment (IMF briefing, 15 October). The first disbursement would follow Board approval. Bloomberg reported on 14 October that approval before year-end would be difficult while an international audit of Senegal’s liabilities is outstanding.

No litigation or enforcement action has been verified for this file.

Sanctions & licences

No country-specific sanctions programme applies. Not applicable to this file.

Latest items

Sources

  1. Reuters · bondholder adviser and haircut warning (13 Oct 2026)
  2. Reuters · timetable and debt perimeter (6 Oct 2026)
  3. IMF · press release 26/282 (1 Sep 2026)
  4. IMF · African Department press briefing, Annual Meetings (15 Oct 2026)
  5. IMF · Senegal good-offices meeting presentation (Oct 2026)
  6. Bloomberg · Board timing, reported (14 Oct 2026)

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