Senegal debt crisis pushes vulnerable families into deepening poverty
Al Jazeera · Recent
Al Jazeera
Recent
Senegal is battling a mounting debt crisis. The International Monetary Fund froze a 1.8-billion-dollar loan after the previous administration hid seven billion dollars of debt. The new government says it must now raise taxes and cut public spending to address the shortfall.
Breakdown
- Welfare payments to half a million families have been cut due to the debt crisis. 48s
- The IMF froze funding after $7 billion in hidden debt was discovered. 53s
- Austerity measures have been introduced, including tax increases and project halts. 2m 16s
- Most of Senegal's debt is owed to local banks rather than foreign lenders. 2m 8s
- Activists argue that debt cancellation, not austerity, is needed to break the poverty cycle. 2m 22s