Senegal Faces $3.5 Billion Arrears Crisis as IMF Deal Takes Shape

Senegal is moving to clear nearly $3.5 billion in outstanding payment arrears while seeking to restore confidence in its public finances. The government says it will avoid a formal debt restructuring and instead reprofile obligations by extending maturities and renegotiating interest rates, as talks continue over a proposed $2.2 billion IMF financing package. #Senegal #IMF #DebtCrisis #AfricaEconomy #GlobalMarkets