On the occasion of the 4th International Conference on Financing for Development (FFD4), held in Seville on Tuesday, July 2, 2025, His Excellency Mr. Bassirou Diomaye Faye, President of the Republic of Senegal, co-chaired, alongside His Excellency Mr. Pedro Sánchez, President of the Government of the Kingdom of Spain, a high-level roundtable under the theme: “Towards a Sovereign Debt Architecture Oriented Towards Development.”
In his address, the Head of State delivered a clear and unequivocal analysis of the current sovereign debt architecture, which he described as inadequate, inequitable, and insufficiently aligned with the socio-economic realities of developing countries. He emphasized that this system significantly hinders populations’ access to essential public services such as education, healthcare, clean water, and adequate, healthy food.
In this regard, the President of the Republic called for an ambitious and inclusive structural reform based on the principles of justice, equity, and transparency. He also stressed the need for a thorough review of the criteria and mechanisms of rating agencies, while incorporating provisions for automatic debt suspension in the event of exogenous shocks.
During his speech, President Diomaye Faye also highlighted:
- The reform of the G20 Common Framework for better international coordination,
- The strengthening of the role of public development banks in resilient financing,
- And the imperative of systematically including private creditors in restructuring processes.
Finally, at the conclusion of this final stage of his participation in the 4th International Conference on Financing for Development (FFD4), the President of the Republic reaffirmed Senegal’s commitment to steadfastly and responsibly promoting this vision of fairer, more humane debt governance, resolutely oriented towards sustainable development.
