On August 28, 2026, Moody’s agency lowered Senegal’s sovereign credit rating from Caa1 to Caa2. This decision stemmed from intense refinancing pressures and the prolonged absence of an active program with the International Monetary Fund (IMF). However, Thierno Alassane Sall, a prominent deputy and leader of the République des Valeurs (RV) political party, attributes this economic downturn to what he describes as an “irresponsible fratricidal war” unfolding between President Diomaye Faye and his former political mentor, Ousmane Sonko.
Sall expressed his strong convictions, stating, “It comes as no surprise that Senegal’s rating has once again been downgraded by Moody’s. This decline is partly due to the reckless internal conflict being waged by the ill-named ‘Kiiraay’ and ‘Pastef’ factions, led by Diomaye and Sonko. It is to these individuals that the Senegalese people owe a portion of the worsening of their living conditions, the deepening of their hardships, and the widespread escalation of their social struggles.”
Furthermore, the deputy urged the populace to “remember, during upcoming elections, the accountability and, critically, the carelessness demonstrated by both the executive branch and Parliament in the face of the challenges the nation endures,” advocating for their complete removal from power.
This downgrade in the nation’s credit standing coincides with an ongoing mission by the IMF, whose representatives are currently engaged in discussions with the Senegalese government in Dakar, aiming to establish a new financial program.
