Senegal launches IMF‑supervised debt treatment, preserves 13 Sep coupon on 2048 eurobond

On 1–4 September 2026 Senegal announced an IMF‑supervised debt treatment plan and a staff‑level $2.2bn IMF financing agreement while saying it will pay the US$ coupon due 13 September 2026 on its 2048 sovereign eurobond. Roughly $4.8bn of eurobonds are in the restructuring perimeter.

The move shifts immediate default risk toward negotiated creditor outcomes: preserving the near‑term coupon reduces a payment shock, but uncertainty over principal, maturities and creditor votes creates conditional downside for Senegal’s mid‑to‑long eurobond curve. Expect spread widening on affected Senegalese issues and potential spillovers to WAEMU sovereign curves and regional banks until creditor terms and IMF board approval are secured.

IMF Executive Board approval of the facility and publication of creditor‑vote mechanics/timetable for the eurobond treatment.