Senegal’s debt policy under scrutiny: Ousmane Sonko’s pragmatic stance

During a recent press interview, Ousmane Sonko, President of Senegal’s National Assembly, addressed pressing concerns about the country’s debt management and the upcoming IMF mission to Dakar. With two years of experience as Prime Minister, he delivered a candid assessment while setting firm boundaries for the current administration led by President Al Aminou Lo.

When questioned about a potential debt restructuring, Sonko firmly rejected any rigid, dogmatic approach. “We do not operate in absolute terms. We evaluate the situation with clarity and realism,” he stated. However, he emphasized that as Prime Minister, he had vehemently opposed any wild restructuring, arguing that “the conditions were not met—the country was not in default and was meeting its obligations.” This principle remains central to his stance from his position in the National Assembly. “Should any decision prioritize short-term ratios over systemic structural change, we will reject it,” he warned, vowing to leverage the Assembly’s authority to block such moves.

Sonko also reflected on his own tenure, addressing criticism that his government continued relying on international lenders despite advocating for economic sovereignty. He defended the choice of transparency, arguing that “concealing figures would have caught up with us sooner or later,” drawing parallels with the Greek debt crisis. “Every nation refinances its debt; it is a natural part of debt management,” he asserted, defending his administration’s adherence to orthodox financial practices.

The discussion took a revealing turn when Sonko addressed the issue of odious debt. Pressed on why he had not pushed for the outright cancellation of debt he himself had labeled as odious, he acknowledged the constraints of his role. “I did not have all the levers. The Prime Minister’s powers in this country are extremely limited,” he admitted, distinguishing between his advocacy as a party leader and his executive limitations. He further clarified that he had never disagreed with President Diomaye Faye on this matter, noting that their last exchange confirmed “the line remains unchanged.”

Looking ahead, Sonko urged the current government to demonstrate political courage. Acknowledging that part of the debt is indeed odious, he called for “the courage to address this debate head-on,” expressing hope that the executive would “take responsibility and discuss the cancellation of a portion of this debt.” His remarks serve as both a challenge and a litmus test for a government he once helped steer.