Senegal’s USD 1.8 bln IMF program is on hold after an audit revealed that the previous government overstated public finances, leading to a downgrade in its credit rating and a rise in debt yields. The country’s debt-to-GDP ratio was recalculated to 99.7% for 2023, up from 65.6% in 2019. Investor concern has caused yields on Senegal’s Eurobonds to rise, with the yield on dollar debt due in 2033 hitting 10.69%, the highest since October 2022.