Senegal’s Prime Minister Ousmane Sonko has unveiled a new economic recovery plan, pledging that 90% of the program will be financed using domestic resources to reduce reliance on foreign debt.
The announcement, made during a presentation in Dakar on Friday, comes as the West African nation faces growing fiscal challenges, including the discovery of billions of dollars in undisclosed debt left by the previous administration — a revelation that led the International Monetary Fund (IMF) to suspend its loan program to Senegal, News.Az reports, citing Reuters.
“We will only seek external partners for the asset recycling portion,” Sonko stated, stressing the government’s commitment to internal resource mobilization as the backbone of the recovery.
Senegal, which began producing oil and gas in 2024, is looking to stabilize its economy and restore credibility with international lenders and investors.
The new strategy aligns with President Bassirou Diomaye Faye’s broader push for economic sovereignty and increased transparency following his election in April 2024 and Sonko’s appointment as prime minister shortly thereafter.
The recovery plan marks a significant policy shift in a region where many economies remain heavily dependent on international aid and external borrowing.
