The IMF concluded a mission to Senegal on Thursday without securing a new lending programme. Senegal’s previous $1.8 billion arrangement was frozen last year after the new administration revealed previously undisclosed liabilities, which have since grown to more than $11 billion.
Speaking at a Pastef party gathering, Sonko said the hidden debts were inherited from former President Macky Sall’s government.
“What the IMF is proposing is a restructuring of this abysmal debt that Macky Sall’s party has burdened us with,” Sonko said. “We told our partners we don’t want a restructuring because it would be a disgrace for Senegal.”
He added that such a move would imply Senegal had borrowed irresponsibly or “with the intent to steal,” insisting instead that the country would “rise to the occasion” and take responsibility.
It remains unclear whether Sonko was referring to domestic debt, international debt, or both.
According to the IMF, Senegal’s total public sector debt — including state-owned enterprises — reached an estimated 132% of GDP at the end of last year, with domestic arrears accounting for around 4%.
IMF Mission Chief Edward Gemayel said discussions would continue in the coming weeks and that Senegal was committed to improving its debt position. A debt sustainability analysis under preparation will determine whether restructuring is necessary, he added.
However, access to new IMF financing would require Dakar to demonstrate a credible plan to place its debt on a sustainable trajectory.
In August, Sonko unveiled an economic recovery plan aimed at funding 90% of its activities through domestic resources while avoiding new borrowing.