Senegal plans to raise 555 billion FCFA through bond issuances in Q3 2026

This is part of a larger effort to secure over 2.1 trillion FCFA by the end of the year to meet its budget objectives. In the first half of 2026, Senegal raised 2.0226 trillion FCFA from the domestic market, with 1.6985 trillion FCFA coming from the UEMOA public securities market. Despite this, the government still needs to raise more than 2.1 trillion FCFA by year-end, including 1.053 trillion FCFA from the regional market.

The planned issuances for the third quarter include 170 billion FCFA in July, 225 billion FCFA in August, and 160 billion FCFA in September. Market conditions have become more challenging, with investors demanding higher yields for Senegalese sovereign issuances. The cost of borrowing for Senegal has increased due to successive downgrades of the country's sovereign rating and the absence of a new program with the International Monetary Fund, with some rates recently reaching 8.09%.

This rise in interest rates poses a significant challenge to public finances, increasing the debt interest burden and reducing the state's budgetary margins, as a growing portion of tax revenues is now allocated to debt repayment.