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Senegal

Faye's IMF gamble hits a debt-treatment wall

Diba's refusal to call the deal a 'restructuring' is spooking creditors just as the divided parliament prepares to vote on the contested plan

Questions over how President Bassirou Diomaye Faye’s government intends to bring its foreign debt-service burden down to an affordable level still hang over the IMF executive board’s decision on whether to approve a proposed US$2.2 billion arrangement. The deal was announced in Dakar on 1 September by a Fund team and Faye’s officials.

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