Senegal is navigating a critical financial crisis, exacerbated by the revelation of off-balance-sheet debt, which has raised alarm bells over the risk of a payment default. Amid these pressing challenges, French President Emmanuel Macron has stepped forward to offer unwavering support to Senegalese counterpart Bassirou Diomaye Faye, highlighting the deepening bilateral ties between Dakar and Paris.

For nearly two years, the off-balance-sheet debt issue has cast a long shadow over Senegal’s public finance management, prompting urgent measures to prevent a payment default. The government has been mobilizing regional financial markets to stabilize its economic situation, while seeking to reassure both domestic and international partners.

Diplomatic dialogue at the highest level

The financial strain on Senegal was a central topic during high-level diplomatic discussions. During a private meeting on the sidelines of the Africa Forward summit in Nairobi, Emmanuel Macron reassured Bassirou Diomaye Faye that France remains a steadfast ally, pledging that Paris would not abandon Dakar in its time of need.

Strengthening Dakar-Paris cooperation

This pledge comes as both nations deepen their bilateral cooperation, particularly in addressing economic challenges and restructuring the country’s financial framework. The presidency of Senegal had previously confirmed the Nairobi meeting, held on May 11 at the University of Nairobi, emphasizing discussions on bilateral cooperation and pressing global issues.

As Senegal continues its efforts to restore financial stability, these high-level exchanges underscore the ongoing diplomatic engagement between the two countries. International partners are closely monitoring Senegal’s economic trajectory, and the dialogue reflects a shared commitment to navigating these turbulent times together.