Senegal’s credit rating downgrade: Alassane Sall points to political strife between Diomaye and Sonko
The credit rating agency Moody’s has downgraded Senegal’s sovereign rating from Caa1 to Caa2 on August 28, 2026. This adjustment reflects significant refinancing pressures and the prolonged absence of an official program with the International Monetary Fund (FMI). However, Deputy Thierno Alassane Sall, who also leads the République des Valeurs (RV) political party, contends that this economic downturn is primarily a consequence of the “irresponsible fratricidal war” between President Diomaye Faye and his former mentor, Ousmane Sonko.
“Predictably, Senegal’s rating has once again been lowered by Moody’s. This downgrade is partly attributable to the irresponsible fratricidal conflict waged by the ill-named ‘Kiiraay’ and ‘Pastef,’ referring to Diomaye and Sonko. This is who Senegalese citizens can hold accountable for a portion of their deteriorating living conditions, the intensification of their hardships, and the widespread social misery,” Thierno Alassane Sall stated.
Furthermore, the deputy urged the populace to “remember, during upcoming elections, the accountability and, crucially, the indifference of both the executive and parliament in the face of the trials they endure,” advocating for their collective removal from office.
This significant credit rating downgrade coincides with an ongoing FMI mission in Dakar, actively engaged in discussions with the government with the hope of establishing a new financial program.
“Predictably, Senegal’s rating has once again been lowered by Moody’s. This downgrade is partly attributable to the irresponsible fratricidal conflict waged by the ill-named ‘Kiiraay’ and ‘Pastef,’ referring to Diomaye and Sonko. This is who Senegalese citizens can hold accountable for a portion of their deteriorating living conditions, the intensification of their hardships, and the widespread social misery,” Thierno Alassane Sall stated.
Furthermore, the deputy urged the populace to “remember, during upcoming elections, the accountability and, crucially, the indifference of both the executive and parliament in the face of the trials they endure,” advocating for their collective removal from office.
This significant credit rating downgrade coincides with an ongoing FMI mission in Dakar, actively engaged in discussions with the government with the hope of establishing a new financial program.
