A drone view shows people walking on the beach in Yoff, Dakar, Senegal, May 22, 2025. REUTERS/Zohra Bensemra/File Phot

DAKAR, June 23 (Reuters) – Senegal’s ministry of economy, finance and planning on Tuesday issued a statement rejecting comments made two days earlier by Trade Minister Serigne Gueye Diop which indicated that ‌the government could be ready to restructure its debts if necessary.

  • The statement, sent to international investors, said Diop’s remarks “merely reflect personal views and should not be construed as representing the official position of the Government of Senegal.”
  • The West African country’s finances have been in crisis ​since the 2024 discovery of billions ​of dollars in debt that were ⁠misreported by the previous government.
  • The International Monetary ​Fund froze its lending programme over the ​discovery and the two sides have been discussing a new programme since. The Fund’s mission chief visited last week.
  • Apart from Diop’s comments, Senegalese authorities have publicly opposed a restructuring. They ⁠approached the IMF visit still reluctant to accept one, two sources told Reuters, citing ⁠domestic ​political opposition.
  • Many investors ​view a restructuring as ⁠necessary to achieve debt sustainability. Then-Prime Minister Ousmane Sonko said in November that the IMF had proposed one, and called the proposal “a disgrace”.
  • Some investors believed Sonko’s dismissal as prime minister last month would help clear the way for a debt overhaul.
  • Many also expected more aligned messaging from the government after the finance and economy ministries were combined last month.