S&P lowers Senegal currency ratings, warns of debt default risk - Africa Business Communities
S&P lowers Senegal currency ratings, warns of debt default risk - Africa Business Communities
Source: Africa Business Communities
―
DW NOTE
S&P just downgraded a country whose primary export revenue — if it comes from oil or passes through energy trade corridors — has been disrupted for six months. Senegal's debt was already elevated before the Strait closed in February. Now 20% of global oil supply is offline, Gulf trade routes are paralysed, and 2,000 ships sit stranded. The downgrade isn't a warning; it's a lagging confirmation of what the balance of payments already showed.