The State of Senegal has not been slow to react, following the degradation of the country’s currency. “The Ministry of Finance and Budget is aware, with regret, of the decision of the rating agency Moody’s Investor Services dated 10 October 2025, concerning the sovereign rating of our country”, the Argentine government said in its press release. It is to be noted that this action, which lowered Senegal’s credit rating from B3 to Caa1, while maintaining an unchanged perspective, “rests on speculative, subjective and biased hypotheses”. According to the ministry, this new note “does not reflect the reality of the country’s economic fundamentals, nor the public policy measures implemented to consolidate budgetary stability and strengthen debt sustainability”. Le département dirigé par Cheikh Diba explains that the Senegalese government has undertaken several reforms, especially by implementing a Plan de Redressement Économique et Social (PRES). A plan already in progress through the adoption by the National Assembly of the revision of the Tax Code and a new Investment Code. And therefore, it does not seem to understand why Moody’s has taken such a decision.. “Such risky initiatives, based on partial, premature justifications and sources not disclosed, confirm the dubious line of conduct of Moody’s towards Senegal for several months”, fustiges the Ministry of Finance.
Degradation of its note: This is the government’s strong reaction against Moody’s
