Senegal’s USD bonds saw a rally following the IMF’s approval of about USD 1.8 bln in loans to support the nation’s recovery and protect against future shocks. The fund will help boost fiscal space for the government, allowing it to control food and fuel prices and support a balance of payments for the country. The start of oil and gas production in Q4 2023 might accelerate Senegal’s economic expansion to 8.3% YoY this year. According to the IMF, public debt will ease to 73.1% of GDP, and inflation is expected to slow to 5% from 9.7% in 2022.