IMF Approves $2.2 Billion Bailout Package for Senegal, Prompting Debt Restructuring

The International Monetary Fund (IMF) has approved a $2.2 billion bailout plan for Senegal, marking the resumption of lending after revelations of extensive misreported borrowing last year. As part of the agreement, the West African nation will seek to restructure its external debts, a move that has already impacted the value of its euro- and dollar-denominated bonds.