Senegal’s IMF deal sparks debate over debt transparency demands

The finalization of the technical accord between Senegal and the International Monetary Fund (IMF) has intensified political discourse within the country. Thierno Bocoum, leader of the Agir-Les Leaders movement, has publicly called for greater transparency regarding debt management and the new program’s conditionalities.

Bocoum emphasizes the need for the release of the economic and financial policies memorandum. Should this not occur, he urges its submission to the National Assembly to enable a comprehensive debate on the commitments made in the name of all Senegalese citizens.

The critique extends beyond the current administration. Bocoum also targets Ousmane Sonko and Abdourahmane Sarr, whom he identifies as key figures in the events leading to the current debt and IMF-related challenges.

Regarding Ousmane Sonko, Bocoum highlights his tenure as Prime Minister from April 2, 2024, to May 22, 2026, arguing that Sonko played a central role in negotiations that preceded the suspension of the previous IMF program. He contends that Sonko was involved in discussions that contributed to the program’s halt.

Bocoum revisits the September 2024 announcement of alleged irregularities in debt data, asserting that this disclosure worsened Senegal’s financial climate and accelerated the suspension of its IMF program.

He also criticizes the government’s reliance on regional market financing at rates he describes as significantly higher than concessional funding options.

Criticism of Abdourahmane Sarr

Bocoum turns his attention to Abdourahmane Sarr, former Minister of Economy, Planning, and Cooperation, citing an apparent shift in his stance on Senegal’s debt sustainability. Bocoum notes that Sarr previously championed the viability of the country’s debt and the credibility of its reduction trajectory, only to later acknowledge the necessity of corrective measures to restore sustainability.

Bocoum insists that all officials involved in managing this dossier must acknowledge their roles in the nation’s current economic difficulties. His remarks follow Senegal’s recent milestone in its IMF negotiations, marked by the completion of a technical agreement for a new economic and financial program.