The Senegalese government has firmly rejected IMF proposals to restructure its debt, describing the idea as “a national shame.”
The announcement was made by Prime Minister Ousmane Sonko during a mass rally in Dakar, where he declared that Senegal would not accept restructuring the massive debt inherited from former President Macky Sall’s administration.
“It would be a stain on Senegal’s honor,” Sonko said.
“It suggests we are a failed student who borrowed money just to steal it,” he added.
The statement comes as the IMF suspended a $1.8 billion credit program with Senegal following revelations of hidden debts exceeding $11 billion.
The International Monetary Fund has said that talks with Senegal will continue, noting that the ongoing debt sustainability analysis will determine whether restructuring is necessary.
