After the publication, on 13 February, of the “explosive” report by the Senegal Court of Auditors, which this time brandished the “truth of the numbers”, specialists predicted an imminent deterioration of the country's sovereign rating by the main financial rating agencies. The perspective is coming true.

According to the magazine “ConfidentielDakar”, on Friday evening, the Moody's rating agency announced the downgrade of Senegal, which is now down to B3 with a negative outlook. This decision concludes the review initiated by the agency. The negative outlook reflects the risks associated with the deterioration of the fiscal situation and the liquidity of the Senegalese government

This deterioration is explained by the revelation of significantly weakened budgetary parameters, highlighted by the Court of Auditors. The B3 rating, which is considered very speculative, indicates a high level of credit risk. This is the worst rating given to Senegal in at least two decades.

This decision will have a direct impact on the country's borrowing conditions. Dakar will now have to be financed at higher interest rates, which can reach double-digit levels, as lenders now include the increased risk of default in their calculations