Under the terms of an agreement signed on Friday, France agreed to suspend debt service of 13.7 billion CFA francs for the period from January to June 2021, in favor of Senegal.

The Senegalese Ministry of Finance and Budget announces a suspension of debt service in the order of 13.7 billion CFA francs. “Senegal and France concluded, on Friday, June 25, 2021, a second agreement as part of the Debt Service Suspension Initiative (ISSD) launched since 2020 by the G20 member countries and coordinated by the Paris Club,” the department said in a statement. The agreement was signed by the Minister of Finance and Budget, Abdoulaye Daouda Diallo, and the French Ambassador to Senegal, Philippe Lalliot. It covers “the period from January to June 2021” and “covers an amount of 13.7 billion CFA francs”, says the press release, recalling that this agreement follows a first suspension over the period from May to December 2020 for an amount of 18.6 billion

“Cumulatively, since the launch of the ISSD in May 2020, the total amount of debt due payments that have been suspended between Senegal and France is 32.3 billion CFA francs,” says the Ministry of Finance, who believes that the signing of this ISSD extension agreement reflects the excellence of relations. diplomatic, economic and financial relations between Senegal and France.