Senegal is \u200baiming for an agreement in principle \u200cwith its official lenders and bondholders by December, three sources said on Tuesday, two \u200byears after the emergence of misreported \u200bdebt that analysts estimate totals $13 billion.<\/p>\n
The \u2060West African country, which said last \u200bmonth it would seek debt “treatment” under the \u200bG20’s Common Framework, made the comments during its first call with investors to outline its \u200bdebt treatment plans, the sources told \u200bReuters.<\/p>\n
It also said it would seek a “constructive contribution” \u200cfrom \u2060the 1 trillion CFA francs ($1.72 billion) outstanding in total return swaps (TRS).<\/p>\n
The closely watched TRS, derivative contracts that Senegal used \u200bto raise \u200bfinancing which \u2060are backed by CFA franc government securities, are largely untested \u200bin restructurings.<\/p>\n
A government presentation named three \u200bcounterparties, \u2060First Abu Dhabi Bank, Africa Finance Corporation and Soci\u00e9t\u00e9 G\u00e9n\u00e9rale for its TRS \u2060instruments, \u200bthe sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Senegal is \u200baiming for an agreement in principle \u200cwith its official lenders and bondholders by December, three sources said on Tuesday, two \u200byears after the emergence of misreported \u200bdebt that analysts estimate totals $13 billion. The \u2060West African country, which said last \u200bmonth it would seek debt “treatment” under the \u200bG20’s Common Framework, made the […]<\/p>\n","protected":false},"author":6,"featured_media":17088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":4,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,27],"tags":[5515,1384,283],"class_list":["post-22212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-west-africa","tag-first-abu-dhabi-bank","tag-g20","tag-senegal"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22212"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22212\/revisions"}],"predecessor-version":[{"id":22213,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22212\/revisions\/22213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/17088"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}