Senegal tapped €650mn of undisclosed borrowing in bid to avoid default
West African nation agreed total return swaps with AFC and FAB months after separate hidden debt scandal came to light
West African nation agreed total return swaps with AFC and FAB months after separate hidden debt scandal came to light

Critics say growing use of total return swaps is piling on risks for cash-strapped countries and their creditors

The continent is better positioned to weather crises, yet perceptions remain stuck in the past

Poor and middle-income countries are spending money on interest payments that could go towards essential public goods

African lender denies it can be drawn into debt restructurings after rating agency cites ‘higher solvency risk’

$510mn securitisation by the World Bank’s IFC is a template to boost flows into developing countries

‘Swap’ trades by hedge funds have exploded recently