Updated
Updated · Reuters · May 26
Senegal Bonds Face 3-4 Point Drop as Sonko Sacking Lifts Default Risk
Updated
Updated · Reuters · May 26

Senegal Bonds Face 3-4 Point Drop as Sonko Sacking Lifts Default Risk

3 articles · Updated · Reuters · May 26
  • Morgan Stanley said investors are likely to price a higher chance of Senegal defaulting after Prime Minister Ousmane Sonko was dismissed on Friday, a move the bank said was not in markets' base case.
  • Sonko had been widely seen as opposed to debt restructuring, and his removal raised concern that Senegal could become more open to a debt rework.
  • Senegal's bonds already fell sharply, and Morgan Stanley said the country's debt curve could underperform further in the near term with another 3-4 point decline.
Was Senegal’s PM fired to save the country or to surrender it to international creditors?
Beyond public bonds, what hidden financial deals could trigger Senegal’s economic collapse?