Senegal Falls Into Sub-90-Day Arrears With Badea as Debt Pressures Mount
Updated
Updated · Bloomberg · May 19
Senegal Falls Into Sub-90-Day Arrears With Badea as Debt Pressures Mount
2 articles · Updated · Bloomberg · May 19
Payments owed by Senegal to the Arab Bank for Economic Development in Africa are less than 90 days overdue, according to people who attended a lender meeting with investors last week.
Badea disclosed the arrears to investors, the people said, adding a fresh sign of financial strain on the Senegalese government.
The missed payments point to mounting debt pressure in Senegal, raising concern about the state's ability to keep up with obligations to official creditors.
With secret high-cost loans fueling its crisis, who truly profits from Senegal’s debt as citizens face austerity?
Senegal spurns IMF aid for its massive debt. Is this a bold sovereign strategy or a fast track to economic ruin?