After Moody’s downgrade, FPRS And Liggey calls for financial talks

The Front pour la République du Sénégal (FPRS And Liggey) is calling for financial talks to be launched following Moody’s downgrade of Senegal’s sovereign rating. The country’s rating was lowered from Caa1 to Caa2, with a negative outlook.

In a statement signed by its president, Djibril Diop, on behalf of the Political Executive Secretariat, the party said the development increases the risks weighing on the refinancing of public finances.

Concerns over public finances

FPRS And Liggey notably points to the level of debt, the prolonged absence of a formalised programme with the International Monetary Fund, and tensions between the executive and the National Assembly.

According to the party, these factors are reducing the State’s budgetary capacity and making access to the regional market more costly. The party also believes the situation is weakening the country’s economic sovereignty, and that political explanations do not address the social emergency it cites.

A call for an inclusive approach

FPRS And Liggey is urging the government to adopt what it describes as a pragmatic approach, with stronger budget transparency and action aimed at restoring the confidence of financial partners.

Above all, the party is calling for immediate financial talks involving political forces, economic experts and social stakeholders. The stated aim is to draw up a national recovery plan in response to the difficulties highlighted by the party.