Senegal begins IMF-backed restructuring of nearly $5bn in eurobonds; pledges to pay Sept. 13 coupon

On Sept. 1–2, 2026 Senegal and the IMF reached a staff-level agreement for a $2.2bn, three-year programme and Dakar launched restructuring of nearly $5bn of international eurobonds under IMF supervision, while publicly committing to honour an eurobond coupon due Sept. 13, 2026.

The announced IMF-backed restructuring concentrates refinancing risk on Senegal’s external curve, pressuring long-dated issues as investors price potential haircuts or extended maturities. If the Common Framework treatment narrows the restructuring perimeter (excluding CFA debt) or imposes deep private-creditor adjustments, risk premia could widen across WAEMU-linked sovereign eurobond curves via portfolio repricing and benchmark spread moves.

IMF management and Executive Board decision on the $2.2bn programme and the IMF-organised creditor information session under the Common Framework.