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?