Senegal’s public debt director Alioune Diouf said the country’s debt is now “fully transparent” and aligned with International Monetary Fund figures, while rejecting suggestions of arrears outside a grace period.
The comments follow the discovery of previously unreported liabilities and fresh claims for lack of transparency in swap contracts. IMF halted a US$1.8 billion program in 2024 after the initial misreporting surfaced, putting Senegal’s debt management under closer scrutiny.
Diouf said the government and IMF were now using identical data after audits covering 2019–2024. “We are aligned on all the figures … there is no difference,” he said on the sidelines of a West Africa investment event in Manhattan, referring to both debt stock and fiscal balances.
Yet the debt-to-GDP and deficit figures the government published in a recent quarterly update do not align with the IMF’s World Economic Outlook.
He pointed to expanded disclosure through quarterly budget reports, a debt statistical bulletin and reporting under IMF data standards, adding: “Today there is total transparency.”
Diouf also said Senegal had no delayed payments to creditors past the grace period. “We’re working to avoid them – we’re working to pay on time,” he said, when asked about arrears within the grace period.
Reuters reported last month that Senegal is falling behind on payments to Paris Club lenders including France, Britain, Italy and Spain. The delays are within grace periods, which are typically 90 days, and are not uncommon.
Diouf described bank loans later converted into government securities known as APEs as previously unrecorded liabilities identified through an audit, rather than missed payments. “It is not arrears … it is debt that was not integrated,” he said.
Talks with the IMF are on-going, with data now reconciled and a programme outline under discussion, though Diouf did not specify what remains to be resolved.
“We are working towards concluding the programme,” he said.
The IMF has said further work is needed to assess Senegal’s debt outlook, while officials have acknowledged differences remain in discussions.
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