The Alleged “Hidden Debt”
The new Senegalese authorities accuse the Macky Sall administration of having concealed a “hidden debt” and, on that basis, have placed the country under an International Monetary Fund programme.
Macky Sall has made access to international financing mechanisms for countries of the Global South one of the central pillars of his campaign for the United Nations. When he left office in April 2024, he left Senegal with a debt-to-GDP ratio well below Western standards, despite the substantial investments made possible by sound economic management — management that was praised at the time by every international financial institution. The new Senegalese authorities chose to place the country under an IMF programme by raising the alarm over an alleged “hidden debt”, seeking to persuade their supporters that their own inability to govern Senegal was the previous administration's fault. It should be recalled that the institutional framework makes any concealment impossible: every loan follows a strict procedure involving, among others, the Supreme Court and the Central Bank of West African States (BCEAO). Growth and investment figures between 2012 and 2024 bear witness to sound, responsible and development-oriented management.