Reuters – Senegal’s international bonds dropped up to 2 cents on Tuesday, a day after the prime minister said the government would lower citizens’ electricity and fuel costs.
The 2028 euro-denominated bond fell the most, shedding 2 cents to bid at 82.88 cents on the euro.
Investors cited Prime Minister Ousmane Sonko’s pledge to reduce energy costs, even as the IMF has pressed the country to reduce the amount of money it spends on subsidies.
An IMF mission is currently in Dakar to discuss a new loan programme.
