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The Apricot Tree of Tangiers · Aug 14, 2026

"Why poor countries cant escape their debts"

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John McIntire · The Apricot Tree of Tangiers

To be sure, the Fund and the Bank completely failed to monitor off-budget loans to Senegal (2019-24) because they were trying to help Macky Sall stay in power given that the opposition leaders at the time (Bassirou Faye, now President and Ousmane Sonko, now President of the National Assembly) were making noises about leaving the CFA. Faye, now that he is President, has changed his mind about leaving the CFA (i.e, the French talked to him) and has even begged Sall to hand over his former supporters to Faye. President Faye is now stuck; heavily indebted (his bonds trade 4% above those of Burkina !) all over and no one to bail him out.

Read the original on johnmcintire.substack.com

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