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Africanews

Senegal denies secret €650M borrowing allegations

Africanews · 8 days ago
Africanews
Africanews
8 days ago

Debt-laden Senegal has denied a report in the Financial Times that it covertly borrowed 650 million euros ($754 million) to avoid a default, saying it acted in line with "market transparency rules".

Breakdown
  • Senegal denies secretly borrowing over $750 million to avoid default
  • Financial Times reported loans from Africa Finance Corporation and Abu Dhabi bank 13s
  • Loans reportedly give lenders privileges over existing bondholders 23s
  • Finance ministry says loans are part of strategy to diversify financing 29s
  • Current government accuses ex-president's administration of concealing budget issues 54s
PoliticsFinance