Senegal parliament approves inquiry into €650m TRS deal with FAB and AFC

On 20 August 2026 Senegal's National Assembly unanimously approved creation of an 11-member parliamentary commission to investigate a €650 million Total Return Swap (TRS) arranged with First Abu Dhabi Bank and Africa Finance Corporation, including guarantees, contract terms and impact on public debt and budgetary disclosure.

A parliamentary inquiry that probes guarantees, contingent liabilities and disclosure around a €650m TRS can change investor perception of Senegal's external debt risk. Adverse findings (undisclosed guarantees or material contingent liabilities) would likely raise refinancing premia on the sovereign Eurobond curve; transparent conclusions limiting contingent exposure could contain credit impact. The inquiry itself does not alter cashflows or debt service.

Parliamentary commission to summon the Finance Minister, Director General of Public Accounting and Treasury for hearings.