Debt servicing costs soared 44.5% year-on-year in the fourth quarter of 2024 to reach $1.4 billion, and grew by 23.98% in the first quarter of 2025 compared to the same period last year, reflecting growing obligations tied to domestic and external liabilities.

Two-thirds of the debt is owed to banks and the remainder is tied to operational arrears, including unpaid supplier bills and taxes, according to the delayed quarterly budget execution reports which were published Monday.

The reports show Senegal mobilised $1.8 million in revenue in the first quarter of 2025, representing 21.44% of annual budget targets, while expenditures reached $2.4 million covering day-to-day spending and capital investments.

External grants fell sharply by 71.49% year-on-year to $14 million, underscoring the difficulties of attracting donor funding.

--Reuters--