The outlook is negative, quite literally.
The American credit rating agency Standard and Poor’s downgraded Senegal’s rating to B minus on Monday.
The rating was followed by a negative outlook from the agency, equivalent to warning of another downgrade to come.
Senegal’s new rating comes as the country faces a debt crisis that S and P said could “intensify funding pressures on the government”.
The agency estimated Dakar’s debt-to-GDP ratio for last year at 118%, up from its previous forecast of 104%.
In February, Moody’s, another American agency, already downgraded Senegal’s rating from B1 to B3, also accompanied by a negative outlook.
Dakar has put forward a plan to reduce the budget deficit by 3% until 2027… a challenging task.
Source: Africanews
