On Friday, Senegal’s dollar bonds rose over 1 cent after the finance ministry detailed a debt management plan. The 2048 bond saw the highest gain, increasing by 1.50 cents. The government aims to consolidate finances and assist economic development.

Senegal’s dollar bonds experienced a notable rise, climbing over 1 cent each on Friday, according to Tradeweb data. This increase followed a finance ministry briefing with investors where they detailed plans for managing inherited debt from the prior government, which was larger than previously disclosed. The bond maturing in 2048 saw the most significant gain, appreciating 1.50 cents to a bid of 69.53 on the dollar by 0848 GMT.

The recent rally in Senegal’s dollar bonds highlights investor confidence in the government’s outlined debt management strategy. The ministry’s commitment to financial consolidation while promoting economic development could stabilize the country’s financial outlook. Overall, the positive response reflects how proactive measures can restore trust in public finance.

Original Source: www.tradingview.com