\n Senegal\u2019s 2026 debt-service bill is projected to be 11% higher than previously estimated after the government uncovered billions of dollars in unreported liabilities left by the former administration, newly released budget documents show.\n <\/p>\n
\n According to figures posted on the Finance Ministry\u2019s Budget Directorate website, debt servicing costs are now expected to reach 5.49 trillion CFA francs ($9.7 billion) in 2026, compared with an earlier estimate of 4.95 trillion CFA francs.\n <\/p>\n
\n Total debt service over the next three years is forecast to exceed earlier projections by more than fourfold, totalling 14.9 trillion CFA francs, Bloomberg<\/a> reported.\n <\/p>\n \n The sharp revision follows a financial audit launched by President Bassirou Diomaye Faye\u2019s administration, which discovered about $7 billion in hidden borrowing.\n <\/p>\n \n The revelation prompted the International Monetary Fund (IMF) to suspend its $1.8 billion support program for the West African nation.\n <\/p>\n Credit downgrades deepen borrowing challenges<\/p>\n \n In the wake of the discovery, S&P Global Ratings and Moody\u2019s Ratings downgraded Senegal\u2019s sovereign credit further into junk territory, making it more difficult and costly for the government to borrow internationally.\n <\/p>\n \n Over 40% of Senegal\u2019s public debt is denominated in foreign currencies, according to S&P.\n <\/p>\n \n Senegal expects its debt-to-GDP ratio to stabilise around 101% by 2028, according to its medium-term debt management strategy.\n <\/p>\n \n The IMF estimates that Senegal\u2019s total liabilities, including those of state-owned enterprises, climbed to 132% of GDP by the end of 2024. When those entities are excluded, government data places the figure at 119%.\n <\/p>\n