Senegal’s credit rating downgrade: Alassane Sall blames “fratricidal war” between Diomaye and Sonko
On August 28, 2026, the credit rating agency Moody’s lowered Senegal’s sovereign rating from Caa1 to Caa2. This decision was primarily driven by significant refinancing pressures and the prolonged absence of an established program with the International Monetary Fund (FMI). However, for Deputy Thierno Alassane Sall, who also leads the République des Valeurs (RV) party, this economic setback stems directly from what he termed “the irresponsible fratricidal war” between President Diomaye Faye and his former mentor, Ousmane Sonko.
“Unsurprisingly, Senegal’s rating has once again been downgraded by Moody’s,” Thierno Alassane Sall stated. “This degradation is partly attributable to the irresponsible internal conflict waged by the ill-named ‘Kiiraay’ and ‘Pastef’ factions, specifically between Diomaye and Sonko. It is to these individuals that the Senegalese people owe a portion of the worsening of their living conditions, the intensification of their hardships, and the widespread escalation of their social destitution.”
Furthermore, the prominent lawmaker urged the public to “remember, during the upcoming elections, the responsibility and, above all, the indifference of both the executive and parliament in the face of the trials they are enduring,” advocating for their collective removal from office.
This significant rating downgrade occurs concurrently with an FMI mission currently engaging with the Senegalese government in Dakar, aiming to establish a new financial assistance program.
“Unsurprisingly, Senegal’s rating has once again been downgraded by Moody’s,” Thierno Alassane Sall stated. “This degradation is partly attributable to the irresponsible internal conflict waged by the ill-named ‘Kiiraay’ and ‘Pastef’ factions, specifically between Diomaye and Sonko. It is to these individuals that the Senegalese people owe a portion of the worsening of their living conditions, the intensification of their hardships, and the widespread escalation of their social destitution.”
Furthermore, the prominent lawmaker urged the public to “remember, during the upcoming elections, the responsibility and, above all, the indifference of both the executive and parliament in the face of the trials they are enduring,” advocating for their collective removal from office.
This significant rating downgrade occurs concurrently with an FMI mission currently engaging with the Senegalese government in Dakar, aiming to establish a new financial assistance program.