External debt: Senegal will exceed $45 billion in 2025

Senegal's external debt continues its upward trajectory and has reached a record level. According to data published this Thursday, November 5, 2026, and reported by the national daily newspaper "Le Soleil," the total outstanding amount reached $45.399 billion at the end of 2025, which is equivalent to more than 26,531 billion CFA francs.

This figure reflects a 10% increase compared to the 2024 financial year and confirms a strong trend over the last decade: since 2015, when it stood at $10.47 billion, the country's external debt has more than quadrupled.

Analysis of the debt structure reveals a clear predominance of public liabilities. Public and state-guaranteed debt represents approximately 65% of the total volume, amounting to $29.589 billion. Unsecured private debt, on the other hand, totals $13.101 billion, or 29% of the total, and continues to exert significant pressure on the country's external financial position.

Finally, short-term receivables complete this financial picture at $2.709 billion, or 6% of the total outstanding amount.

When examining the profile of public debt and guarantee providers, multilateral financing remains the primary source of funds, with $13.287 billion, representing 45% of the public subtotal. Within this category, the International Development Association (IDA), a subsidiary of the World Bank, stands out as the main partner with $5.186 billion in outstanding debt, followed by the African Development Bank (AfDB) with $2.135 billion and other multilateral organizations with a combined $5.967 billion.

Regarding bilateral creditors, who hold $5.193 billion of Senegal's public debt, China is the largest lender with an outstanding balance of $2.086 billion. It is followed by France, to whom Senegal owes $1.611 billion, while all other bilateral partners combined hold $1.497 billion.

A particularly critical aspect of this financial architecture lies in the share held by private creditors, who account for nearly 38% of the public debt, totaling $11.108 billion. This dependence on private investors and Eurobond holders directly exposes public finances to the fluctuations and demands of financial markets, where borrowing costs are significantly higher than those of concessional financing.

Compared to other reporting countries, Senegal maintains a high debt profile despite a sharp decline in debt service recorded in 2025. The country's ratios place it above the average of the sample observed by the 2026 International Debt Report.

Regarding new operations contracted in 2025 with official creditors, the average financial conditions show a maturity of 13 years, a grace period of 4 years and an interest rate of 3.0%.