Senegal's Eurobond Prices Plummet Amid Debt Restructuring Concerns

Senegal's eurobonds have fallen due to concerns that the country may restructure its debts, potentially threatening losses for investors. Bank of America is pessimistic about Senegal's ability to avoid a restructuring, citing low liquidity ratios and IMF debt thresholds. Senegal's debt burden has been inflated after discovering $7 billion in hidden loans, prompting IMF to suspend a $1.8 billion funding package. Talks for a new IMF program are ongoing, but will depend on a debt sustainability analysis and Senegal's steps to put its finances on a sustainable path.