The global credit rating agency, Moody’s, recently revised Senegal’s sovereign rating downwards from Caa1 to Caa2 on August 28, 2026. This adjustment reflects significant refinancing pressures facing the West African nation, alongside the prolonged absence of an agreed program with the International Monetary Fund (FMI). However, for Deputy Thierno Alassane Sall, who also leads the République des Valeurs (RV) political party, this economic setback is directly attributable to what he terms the “irresponsible fratricidal war” unfolding between President Diomaye Faye and his former political mentor, Ousmane Sonko.
“It comes as no surprise that Senegal’s rating has once again been downgraded by Moody’s,” Thierno Alassane Sall articulated. He further elaborated, “This downgrade is partly due to the irresponsible fratricidal war waged by the ill-named ‘Kiiraay’ and ‘Pastef’ factions, between Diomaye and Sonko. This is who Senegalese citizens can thank for a share of the worsening of their living conditions, the intensification of their suffering, and the widespread social hardship.”
The prominent deputy also urged the populace to “remember, during upcoming elections, the responsibility and, above all, the carelessness of both the executive and parliament in the face of the trials they are enduring,” with the ultimate goal of removing them from power.
This downgrade to Senegal’s sovereign rating occurs concurrently with an FMI mission currently engaged in discussions with the government in Dakar, aiming to establish a new financial program.