Senegal is resisting a painful debt restructuring plan recommended by the IMF, but support from the Fund is critical for country’s recovery.
By Alex Kozul-Wright
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Senegal is at loggerheads with the International Monetary Fund (IMF) over a bailout it urgently needs to plug a gaping hole in its public finances. While the IMF wants the West African nation to undertake a painful restructuring before it will agree to a bailout, Senegal, which was recently downgraded to deep within “junk bond” status, is resisting this plan.
