Dakar, April 01, 2025
CADTM Senegal calls on the government to immediately and unilaterally suspend the reimbursement of the this
This
Multilateral debt : Debt due to the World Bank, IMF, regional development banks such as the African Development Bank, and other multilateral institutions such as the European Development Fund.
Private debt : Borrowings contracted by private borrowers regardless of the lender.
Public debt : All of the loans contracted by public borrowers.
public in the face of alarming revelations of the Court of Auditors. According to this report, the real debt of Senegal between 2019 and 2023 was seriously underestimated: it represents near 100 % of Commence
Commence
Gross domestic product
GDP reflects the total wealth produced on a given territory, estimated by the sum of added values.
The gross domestic product is an economic aggregate which measures total production in a given territory, estimated by the sum of the added values. This measure is notoriously incomplete ; It does not take into account, for example, all activities that are not the subject of a market exchange. Economic growth is called variation in GDP from one period to another.
against 65,6 % announced by the previous authorities. In addition, the budget deficit amounts to 12,3 % you pibfar from 4,9 % initially declared. Added to this is the discovery of a hidden debt of $ 7 billion (more than 4,000 billion CFA francs) Between 2019 and 2024, according to the FMI
FMI
International Monetary Fund
The IMF was created in 1944 in Bretton Woods (with the World Bank, its twin institution). Its purpose was to stabilize the international financial system by regulating the circulation of capital.
To date, 190 countries are members (the same as in the World Bank).
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In this context, where The IMF refuses any new disbursement As long as this debt has not been clarified, it is imperative that Senegal takes the necessary measures to stop the financial hemorrhage and initiate a national debate on the management of public debt.
-Senegal is faced with an unprecedented economic and social crisis, with a debt service
Debt service
Reimbursements of interest and capital borrowed.
up to $ 4.13 billion To be reimbursed by 2028. This burden stifles public finances and mortgages investments in essential sectors such as health, education, employment and energy. It is unacceptable that the population continues to undergo the consequences of opaque management of the debt contracted at the expense of the general interest.
The Senegal Cadtm requires:
- The immediate suspension of the reimbursement of the debt in order to redirect resources to the urgent needs of the population.
- The organization of a public and participative audit of the debt to determine the illegitimate, illegal and odious part of it.
- The opening of a national debate on economic and financial alternatives allowing a true sovereignty of Senegal in the face of unbearable debt.
- The establishment of a transparent and inclusive negotiation framework with creditors in order to reassess the reimbursement methods in the interest of the Senegalese people.
The time has come for Senegal to overthrow the balance of power in the face of international financial institutions and creditors. We refuse that the population continues to pay the price of governance errors and foreign financial interests. A unilateral suspension of reimbursement is not only an economic and social necessity, but also an act of sovereignty essential for the future of the country.
The CADTM Senegal calls civil society, unions, youth organizations and all the living forces to mobilize to demand this suspension and a citizen of debt.
CAPTM Senegal
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