Moody’s agency recently lowered Senegal’s sovereign credit rating from Caa1 to Caa2 on August 28, 2026. This decision was attributed to significant refinancing pressures and the prolonged absence of an established program with the International Monetary Fund (FMI). However, Deputy Thierno Alassane Sall, also the leader of the République des Valeurs (RV) party, asserts that this economic downturn is a direct consequence of an “irresponsible fratricidal conflict” between President Diomaye Faye and his former mentor, Ousmane Sonko.
Sall expressed his lack of surprise, stating, “Senegal’s rating has once again been downgraded by Moody’s. This downturn is partly attributable to the reckless internecine struggle waged by those erroneously referred to as ‘Kiiraay’ and ‘Pastef’—Diomaye and Sonko. This is who the Senegalese people can hold responsible for the worsening of their living conditions, the intensification of their hardships, and the widespread social destitution.”
Furthermore, the Deputy urged citizens to “remember, during upcoming elections, the accountability and, crucially, the indifference of both the executive and parliament in the face of the trials they are enduring,” with the ultimate aim of “removing them all from power.”
This credit rating downgrade occurs as an FMI delegation is currently engaged in discussions with the government in Dakar, aiming to establish a new financial program.
Sall expressed his lack of surprise, stating, “Senegal’s rating has once again been downgraded by Moody’s. This downturn is partly attributable to the reckless internecine struggle waged by those erroneously referred to as ‘Kiiraay’ and ‘Pastef’—Diomaye and Sonko. This is who the Senegalese people can hold responsible for the worsening of their living conditions, the intensification of their hardships, and the widespread social destitution.”
Furthermore, the Deputy urged citizens to “remember, during upcoming elections, the accountability and, crucially, the indifference of both the executive and parliament in the face of the trials they are enduring,” with the ultimate aim of “removing them all from power.”
This credit rating downgrade occurs as an FMI delegation is currently engaged in discussions with the government in Dakar, aiming to establish a new financial program.
