Senegal hires financial adviser to manage $13 bn debt amid IMF talks

The Senegalese government announced a recruitment process for a financial adviser to help manage public debt now estimated at more than $13 billion, roughly 130 % of GDP. President Bassirou Diomaye Faye has also appointed 22 new officials to finance and debt directorates and created a Directorate General for Financing and Debt (DGFD), headed by banker Babacar Touré, to centralise debt management.

The move follows the International Monetary Fund’s suspension of a $1.8 billion support programme after hidden liabilities were uncovered. Senegal is seeking to restore investor confidence and restart talks with the IMF. IMF Africa Department Director Zeine Zeidane said he expected “active discussions” within ten days and expressed hope that negotiations could move “very quickly”. The existing Paris‑based adviser Global Sovereign Advisory will remain in place, and the new adviser may work alongside it. The reforms aim to improve transparency, meet IMF requirements and bring the fiscal deficit down to 5.4 % of GDP by 2026.