Debt, IMF and budget gridlock: Why Senegal risks a breakdown of trust, according to Cheikhou Oumar Sy

Senegal is not only jeopardizing its budgetary stability, but also its credibility with its international partners. This was the warning issued on Sunday, November 8, 2026, by Cheikhou Oumar Sy, during a press conference dedicated to the economic crisis and institutional gridlock.

Between the rejection of the amending finance law (LFR) 2026, uncertainties surrounding the initial finance law (LFI) 2027 and tensions on public finances, stakeholders fear a weakening of confidence in institutions and the word of the State.

Behind the battles over budget texts, it is Senegal's entire economic credibility that is at stake. For Cheikhou Oumar Sy, these institutional disagreements are occurring in a particularly demanding international context, marked by geopolitical tensions, volatile energy markets, tighter financing, and increased investor expectations.

The country, long considered a stable institutional partner in West Africa, now faces serious questions about the sustainability of its debt, the reliability of its budget forecasts and the consistency of its public decisions.

The deterioration of its sovereign rating, the difficulties in mobilizing external financing and the uncertainties surrounding negotiations with the International Monetary Fund (IMF) constitute, according to him, all signals that call for increased vigilance.

But the consequences of this situation are not limited to relations with financial partners. They are impacting the real economy. "Meanwhile, our businesses are waiting for their debts to be settled, our young people are waiting for jobs, and our households are suffering the consequences of shrinking budget margins," he emphasized.

Hence his particularly incisive question: "How can we ask the Senegalese people to make sacrifices when the institutions meant to lead national recovery cannot agree on essential budgetary guidelines?"

For Cheikhou Oumar Sy, the issue transcends political differences. It is about preserving the continuity of the state, respecting international commitments, and maintaining the strength of republican institutions. "We are not gathered here to fuel yet another political squabble," he insisted, calling for the nation's best interests to be placed at the heart of the public debate.

Alongside Madana Kane, Théodore Chérif Monteil and Alassane Niang, he took part in this meeting organized around the rejection of the 2026 Finance Law, the blockages linked to the 2027 Finance Law, the worsening of budgetary tensions and the economic risks of institutional confrontation.