Eurobonds and bond issues on the local financial market are not mutually exclusive. On the contrary, for a state, these instruments are complementary. This is a statement by economist Ousmane Birame Sané, a guest on the program "Seneweb éco" this Sunday, June 29.

"Eurobonds and bond issues on the local financial market are not alternative instruments. They are complementary instruments. It is up to the State, and first and foremost to businesses, through their financing strategy, to know when they need local currency resources with lower rates and when they need foreign currency resources with more or less contingent rates depending on the nature," Mr. Sané stated.

For more efficient debt management, Mr. Sané considers that the Bassirou Diomaye Faye regime did well to raise its first Eurobonds.

Indeed, according to the consultant, by raising its Eurobonds, the Senegalese government is seeking to "build its yield curve," which helps with better debt management. "A yield curve, if it is efficient, must be such that issues cost less and less and with increasingly long maturities, if necessary. So, if the next Eurobond is below the rate of the first, we consider that we are building a yield curve at the level of the international financial market, but also at the local level. When we see the classes, the issue tranches with rates of 6.64, 6.75, 6.95, the government is building its yield curve, which allows for more efficient debt management."

To finance priority projects in a context of frozen discussions with the International Monetary Fund (IMF), the State of Senegal has returned to the regional debt market.

Indeed, the Public Treasury launched, on Wednesday, June 18, 2025, a new public appeal for savings amounting to 300 billion CFA francs.