> ## Content Index > Fetch the complete content index at: https://www.sovereigncreditorreview.com/llms.txt > Use this file to discover other available public pages before exploring further. # The Daily Docket — Saturday 24 October: Senegal's bank lenders hire an adviser; Citgo ruling still pending - URL: https://www.sovereigncreditorreview.com/the-daily-docket-saturday-24-october-senegals-bank-lenders-hire-an-adviser-citgo-ruling-still-pending/ - Published: 2026-10-24T05:30:00.000Z - Updated: 2026-10-24T05:30:00.000Z - Description: Senegal's commercial-bank creditor committee has picked Houlihan Lokey, Reuters reports, as the FSDT strike ends. No Third Circuit ruling yet. - Author: Sovereign Creditor Review Staff - Tags: Daily Docket **Saturday, 24 October 2026** · Coverage to 00:15 ET, Saturday 24 October · By Sovereign Creditor Review Staff Desks: Venezuela · Cuba & Title III · Senegal · Ethiopia · Other --- ## 1\. Bottom line 1. Senegal's commercial-bank creditor committee has chosen Houlihan Lokey as financial adviser, four people told Reuters. The committee is one of the separate creditor groups in Dakar's "enhanced" Common Framework process ([Reuters via FinanceTime](https://financetime.org/world/africa/senegal-bank-creditor-committee-picks-houlihan-lokey-adviser-sources-say-2026-10-23?ref=sovereigncreditorreview.com)). 2. The Third Circuit has issued no ruling on the PDV Holding sale appeals since the 21 October argument, and we found no OFAC licence for Amber's acquisition ([Vene Economist](https://veneeconomist.com/en/pulse/ve-pulse-0160-22-10-2026?ref=sovereigncreditorreview.com); [OFAC](https://ofac.treasury.gov/recent-actions?ref=sovereigncreditorreview.com)). 3. OFAC's recent-actions page shows nothing after 21 October. The UK Sanctions List was last updated on 16 October, and we found no EU act on Venezuela or Cuba ([OFAC](https://ofac.treasury.gov/recent-actions?ref=sovereigncreditorreview.com); [GOV.UK](https://www.gov.uk/government/publications/the-uk-sanctions-list?ref=sovereigncreditorreview.com)). ## 2\. Top story: Senegal's bank lenders organise as the strike ends Senegal's bank creditor committee has picked Houlihan Lokey as its financial adviser, four people told Reuters on 23 October. Reuters said Senegal's "enhanced" Common Framework process includes separate committees for commercial banks and for regional development institutions, and that the government met bank creditors on 25 September. Houlihan Lokey declined to comment, and the government did not immediately respond to Reuters ([Reuters via FinanceTime](https://financetime.org/world/africa/senegal-bank-creditor-committee-picks-houlihan-lokey-adviser-sources-say-2026-10-23?ref=sovereigncreditorreview.com)). Separately, the FSDT unions' 72-hour general strike ended on 23 October. The unions said turnout was "massive" despite requisitions and threats, and they will hold a press conference on 24 October to set next steps. The government has not given its own figure for turnout ([Le Dakarois, citing Seneweb](https://ledakarois.sn/article/fin-de-la-greve-de-72-heures-le-fsdt-salue-une-mobilisation-massive?ref=sovereigncreditorreview.com)). ## 3\. What changed - **23 Oct · Senegal:** Reuters reported, citing four people, that the bank creditor committee has chosen Houlihan Lokey as financial adviser ([Reuters via FinanceTime](https://financetime.org/world/africa/senegal-bank-creditor-committee-picks-houlihan-lokey-adviser-sources-say-2026-10-23?ref=sovereigncreditorreview.com)). - **23 Oct · Senegal:** The FSDT's 21–23 October general strike ended; the unions said "we will continue the fight until our demands are met" (our translation) ([Le Dakarois](https://ledakarois.sn/article/fin-de-la-greve-de-72-heures-le-fsdt-salue-une-mobilisation-massive?ref=sovereigncreditorreview.com)). - **23 Oct · Cuba:** At a rally in Florida, President Trump said, "We'll take care of Cuba on our way back from Iran ... then we're going to send Marco Rubio in to finish up the deal," Reuters reported ([Reuters via Investing.com](https://www.investing.com/news/commodities-news/trump-says-us-will-take-care-of-cuba-on-its-way-back-from-iran-4970339?ref=sovereigncreditorreview.com)). - **23 Oct · Venezuela:** Acting President Delcy Rodríguez led a review of oil and gas projects under the bilateral agreements with the United States, joined by US chargé d'affaires John Barrett and PDVSA president Héctor Obregón Pérez, according to the presidency. It said the review covered the 17 agreements PDVSA signed with NABEP in August ([Prensa Presidencial](https://prensapresidencialvenezuela.gob.ve/index.php/2026/10/23/presidenta-delcy-rodriguez-lidera-inspeccion-a-proyectos-petroleros-venezuela-eeuu/?ref=sovereigncreditorreview.com)). - **23 Oct · Venezuela (sanctions):** GL 60 reached its original expiry date of 23 October. OFAC had already replaced it with GL 60A (earthquake relief) on 16 October ([OFAC](https://ofac.treasury.gov/recent-actions/20261016?ref=sovereigncreditorreview.com); [Federal Register](https://www.federalregister.gov/documents/2026/10/13/2026-20831/publication-of-venezuela-sanctions-regulations-web-general-license-60?ref=sovereigncreditorreview.com)). - **22–23 Oct · EU (Russia):** Nexus Europa, an aggregator citing FAZ, Der Standard and Tagesschau, reported that member states agreed to extend sanctions on nearly 3,000 Russian targets after delisting Alisher Usmanov and Mikhail Fridman, and approved a new package. This is not a Venezuela or Cuba measure, and we did not confirm it on Consilium ([Nexus Europa](https://nexuseuropa.eu/en/story/eu-extends-russian-sanctions-and-adopts-record-package-after-oligarch-compromise-21741?ref=sovereigncreditorreview.com)). ## 4\. Desk notes **Venezuela.** No material change in the courts since 22 October 2026\. The PDV Holding sale appeals (3d Cir. Nos. 25-3347 et seq.) were argued on 21 October and await decision; we found no order on Venezuela's abeyance motion ([Vene Economist](https://veneeconomist.com/en/pulse/ve-pulse-0160-22-10-2026?ref=sovereigncreditorreview.com)). Vene Economist reported that closing also requires an OFAC licence ([Vene Economist](https://veneeconomist.com/en/pulse/ve-pulse-0160-22-10-2026?ref=sovereigncreditorreview.com)). In Reuters' account of the argument, Crystallex counsel Miguel Estrada said Judge Stark "went as far as he could to make (the process) transparent," and PDVSA counsel Katherine Wellington said the price "shocked the conscience" ([Reuters via Hydrocarbon Processing](https://www.hydrocarbonprocessing.com/news/2026/10/long-fight-over-refiner-citgo-progresses-at-us-appeals-court/?ref=sovereigncreditorreview.com)). On the sovereign debt, economic adviser Calixto Ortega said on 16 October that Centerview remains Venezuela's financial adviser ([Reuters via Investing.com](https://www.investing.com/news/economy-news/top-economic-adviser-says-centerview-remains-venezuelas-financial-adviser-4953157?ref=sovereigncreditorreview.com)); a debt sustainability analysis he described on 14 October as coming "very soon" has not been published. *Who is affected:* Holders of the PDVSA 2020 bonds, for whom about USD 2.1bn of sale proceeds is earmarked, per Vene Economist ([Vene Economist](https://veneeconomist.com/en/pulse/ve-pulse-0160-22-10-2026?ref=sovereigncreditorreview.com)), and judgment creditors in the Delaware process. From 5 Nov, OFAC's GL 5Z permits PDVSA 2020 holders to enforce against the pledged CITGO Holding shares ([OFAC](https://ofac.treasury.gov/sanctions-programs-and-country-information/venezuela-related-sanctions?ref=sovereigncreditorreview.com)). *Next trigger:* GL 5Z takes effect on 5 November 2026\. The Third Circuit has set no date to rule. **Cuba & Title III.** We found no new Title III ruling in the coverage window from the Eleventh Circuit, SD Fla or SDNY. The 2026 rulings in force, each with its own court and date: - *Havana Docks Corp. v. Royal Caribbean Cruises* (US Supreme Court, 21 May 2026): vacated and remanded ([Supreme Court opinion](https://www.supremecourt.gov/opinions/25pdf/24-983%5Fc07d.pdf?ref=sovereigncreditorreview.com)). - *Exxon Mobil Corp. v. Corporación CIMEX* (US Supreme Court, 23 June 2026) ([Arnold & Porter](https://www.arnoldporter.com/en/perspectives/advisories/2026/08/will-exxon-mobil-v-cimex-lead-to-more-helms-burton-act-claims?ref=sovereigncreditorreview.com)). - *Rodriguez v. Imperial Brands PLC* (Eleventh Circuit, 23 July 2026): affirmed dismissal for lack of personal jurisdiction, applying *Fuld* ([Eleventh Circuit opinion via CourtListener](https://storage.courtlistener.com/pdf/2026/07/23/luis%5Fmanuel%5Frodriguez%5Fv.%5Fimperial%5Fbrands%5Fplc..pdf?ref=sovereigncreditorreview.com)). On policy, President Trump said on 23 October that the US would "take care of Cuba" after Iran and send Secretary Rubio "to finish up the deal," Reuters reported ([Reuters via Investing.com](https://www.investing.com/news/commodities-news/trump-says-us-will-take-care-of-cuba-on-its-way-back-from-iran-4970339?ref=sovereigncreditorreview.com)). OFAC's latest Cuba action remains the 15 October BICSA designation with FAQ 1276, whose wind-down non-targeting posture runs through 14 November ([OFAC FAQ 1276](https://ofac.treasury.gov/faqs/1276?ref=sovereigncreditorreview.com)). *Who is affected:* Foreign counterparties of BICSA, which have until 14 November to wind down under FAQ 1276, and Title III defendants in remanded cases. *Next trigger:* UN General Assembly debate on the embargo resolution on 27–28 October, with reports differing on whether the vote falls on 27–28 or 28 October ([Reuters via Astro Awani](https://international.astroawani.com/politics-news/top-cuban-diplomat-accuses-us-threatening-countries-vote-cuba-un?ref=sovereigncreditorreview.com)). No Title III hearing date has been verified. London: No new public filing. **Senegal.** The staff-level agreement on a USD 2.2bn, 36-month ECF (1 September) still awaits the Board. Africa Department director Zeine Ould Zeidane said that for the IMF to present the programme, "financing guarantees regarding debt treatment from official creditors are needed – not from all creditors, but from official creditors" ([Financial Afrik](https://www.financialafrik.com/en/2026/10/17/senegals-debt-imf-clarifies-key-to-unlocking/?ref=sovereigncreditorreview.com)). The bank creditor committee now has an adviser, Reuters reported (see Top story). *Who is affected:* Commercial-bank lenders, now organised in their own committee; official bilateral creditors, whose assurances precede the Board; and Eurobond holders. No IMF money is disbursed before Board approval. *Next trigger:* FSDT press conference on 24 October; Official Creditor Committee assurances (no date set); National Assembly votes on the revised 2026 and draft 2027 budgets (no date verified). **Ethiopia.** No material change since 22 October 2026\. The consent solicitation for the USD 1bn 6.625% Eurobond has not been launched; Fitch said on 16 October it expects a launch "in the coming weeks," and the exchange needs holders of 75% of principal ([bne IntelliNews](https://new.intellinews.com/articles/fitch-keeps-ethiopia-at-restricted-default-as-1bn-eurobond-restructuring-nears-completion-tigray-war-looms-476623?ref=sovereigncreditorreview.com)). *Who is affected:* Holders of the 6.625% bond, who would receive a USD 880m 6.15% bond maturing 15 July 2029 and USD 99.375m for missed coupons ([Addis Fortune](https://addisfortune.news/last-of-six-to-close-ethiopia-sets-december-for-bond-swap?ref=sovereigncreditorreview.com)). *Next trigger:* Launch of the consent solicitation (no date set); IMF sixth-review talks expected in November ([The Reporter](https://www.thereporterethiopia.com/53417/?ref=sovereigncreditorreview.com)). **Other.** No material change since 22 October 2026\. We found no new IMF Board decision, exchange offer or creditor-committee statement for Ukraine, Zambia, Ghana, Sri Lanka, Lebanon or Argentina in the coverage window. ## 5\. What to watch 1. A Third Circuit opinion or order in Nos. 25-3347 et seq., including on Venezuela's abeyance motion. 2. Any OFAC licence decision on Amber's acquisition of PDV Holding, and GL 5Z taking effect on 5 November. 3. The UN General Assembly embargo vote (debate 27–28 October) and any US Cuba action or talks that follow the President's 23 October remarks. 4. Senegal: the FSDT's next steps on 24 October; Official Creditor Committee financing assurances; any adviser picks or terms from the bank and development-institution committees. 5. Ethiopia: publication of the consent solicitation memorandum. ## 6\. Analysis (paid) Senegal's process now has more creditor tables than earlier Common Framework cases. Reuters describes separate committees for commercial banks and regional development institutions alongside the bilateral and bondholder groups ([Reuters via FinanceTime](https://financetime.org/world/africa/senegal-bank-creditor-committee-picks-houlihan-lokey-adviser-sources-say-2026-10-23?ref=sovereigncreditorreview.com)). The IMF's stated sequence is that official-creditor financing assurances come first and individual treatment agreements follow, on Zeine Ould Zeidane's account ([Financial Afrik](https://www.financialafrik.com/en/2026/10/17/senegals-debt-imf-clarifies-key-to-unlocking/?ref=sovereigncreditorreview.com)). Domestic politics also bear on timing: Reuters reported that Senegal's bonds fell after Ousmane Sonko opposed the budget bills ([Reuters via CNBC Africa](https://www.cnbcafrica.com/2026/senegal-bonds-fall-after-sonko-opposes-budget-bills?ref=sovereigncreditorreview.com)), and the FSDT unions have said they will keep up their action. On Cuba, the 23 October remarks are a statement of intent at a political rally, not an executive action or licence. We found no OFAC, State Department or Cuban government document setting out the terms of any "deal." In Venezuela, the court and the Treasury still control separate steps: Vene Economist notes that even if the sale order is affirmed, Amber can close only after OFAC grants a licence ([Vene Economist](https://veneeconomist.com/en/pulse/ve-pulse-0160-22-10-2026?ref=sovereigncreditorreview.com)). ## 7\. Next 14 days (24 October–6 November) | Date | Matter | Forum | What to watch | | ------------------ | ------------------------------------------------------- | --------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | 24 Oct | FSDT press conference, 10:00 Dakar | Senegal unions | Next steps after the strike ([Le Dakarois](https://ledakarois.sn/article/fin-de-la-greve-de-72-heures-le-fsdt-salue-une-mobilisation-massive?ref=sovereigncreditorreview.com)) | | 27–28 Oct | Cuba embargo resolution (CGTN gives the vote as 28 Oct) | UN General Assembly | The vote and any US response ([Reuters via Astro Awani](https://international.astroawani.com/politics-news/top-cuban-diplomat-accuses-us-threatening-countries-vote-cuba-un?ref=sovereigncreditorreview.com)) | | 5 Nov | GL 5Z takes effect (PDVSA 2020) | OFAC | Any amendment before then ([OFAC](https://ofac.treasury.gov/sanctions-programs-and-country-information/venezuela-related-sanctions?ref=sovereigncreditorreview.com)) | | No date | PDV Holding sale appeal | 3d Cir. | Opinion; order on the abeyance motion | | No date | Ethiopia consent solicitation | Bondholders | Launch; 75% threshold | | November (no date) | Ethiopia sixth ECF review talks | IMF | Start of review talks | | No date | Senegal financing assurances | Official Creditor Committee / IMF | Assurances, then a Board date | We verified no IMF Board dates for Senegal or Ethiopia in this window. Just outside it: the BICSA wind-down period under FAQ 1276 ends on 14 November ([OFAC FAQ 1276](https://ofac.treasury.gov/faqs/1276?ref=sovereigncreditorreview.com)). ## 8\. Sanctions and licences - **OFAC (US):** No new action published since 21 October 2026 as of our check at 00:15 ET on 24 October; the recent-actions page lists nothing for 22 or 23 October ([OFAC](https://ofac.treasury.gov/recent-actions?ref=sovereigncreditorreview.com)). Most recent actions by programme: - *Venezuela:* GL 60A (earthquake relief), 16 October; the superseded GL 60 carried a 23 October expiry ([OFAC](https://ofac.treasury.gov/recent-actions/20261016?ref=sovereigncreditorreview.com)). - *Cuba:* BICSA designation and FAQ 1276, 15 October, with wind-down non-targeting through 14 November ([OFAC FAQ 1276](https://ofac.treasury.gov/faqs/1276?ref=sovereigncreditorreview.com)). - *GL 5Z:* From 5 Nov, OFAC's GL 5Z permits PDVSA 2020 holders to enforce against the pledged CITGO Holding shares ([OFAC](https://ofac.treasury.gov/sanctions-programs-and-country-information/venezuela-related-sanctions?ref=sovereigncreditorreview.com)). - We found no specific licence for Amber's PDV Holding acquisition. - **UK (FCDO/OFSI):** No change since 16 October 2026\. The UK Sanctions List page still shows its last update as 16 October (3 variations under the ISIL (Da'esh) and Al-Qaida regime) ([GOV.UK](https://www.gov.uk/government/publications/the-uk-sanctions-list?ref=sovereigncreditorreview.com)). - **EU:** No Venezuela or Cuba change verified since 15 October 2026 ([Consilium](https://www.consilium.europa.eu/en/press/press-releases/2026/10/15/closing-loopholes-council-lists-individuals-and-entities-for-circumventing-eu-sanctions/?ref=sovereigncreditorreview.com)). The Venezuela measures run to 10 January 2027 under Decision (CFSP) 2025/2586 ([EUR-Lex](https://eur-lex.europa.eu/eli/dec/2025/2586/oj?ref=sovereigncreditorreview.com)). We found no 2026 amendment to the blocking statute annex for US Cuba measures ([European Commission](https://finance.ec.europa.eu/eu-and-world/open-strategic-autonomy/extraterritoriality-blocking-statute%5Fen?ref=sovereigncreditorreview.com)). A Russia extension and new package were reported on 22–23 October (see What changed); unconfirmed on Consilium. ## 9\. Markets - **Brent (ICE, front month):** settled at USD 116.72/bbl on 23 October, up USD 3.55 (3.14%), the highest settlement since 29 April, Reuters reported ([Reuters via Investing.com](https://www.investing.com/news/commodities-news/oil-little-changed-as-supply-concern-lingers-amid-houthi-attacks-on-saudi-arabia-4967907?ref=sovereigncreditorreview.com), updated 15:42 ET). - **Gold:** daily close of USD 4,016.60/oz on 23 October, down 1.08%, per GoldPriceToday.info's third-party feed; spot was USD 3,996.90 at 22:30 ET ([GoldPriceToday.info](https://goldpricetoday.info/gold-closing-price/?ref=sovereigncreditorreview.com)). Not a primary exchange source. - **Senegal 2037 euro bond:** last verified bid 48.931 cents on 20 October, per Tradeweb data cited by Reuters ([Reuters via CNBC Africa](https://www.cnbcafrica.com/2026/senegal-bonds-fall-after-sonko-opposes-budget-bills?ref=sovereigncreditorreview.com)). We found no later quote. - **Venezuela/PDVSA, Ethiopia 2024 and Cuba debt:** we could not verify prices from public sources for this issue. --- *Disclosure: the proprietor of Sovereign Creditor Review and its affiliates may hold or take positions in matters discussed, and the founders have advised sovereigns and creditors and may do so again. Information only; not legal, investment or other advice.* [*Full disclosure*](https://www.sovereigncreditorreview.com/editorial-standards/)*. Corrections: corrections@sovereigncreditorreview.com*