US wants Senegal debt restructuring wrapped up in less than a year

The United States views Senegal’s request for debt restructuring as a “great example” of progress on the Group of 20 Common Framework, and wants to see work on the case completed in less than a year, a top US Treasury official said on Thursday.

Erin Browne, Treasury undersecretary for international affairs, co-chaired a meeting of the Global Sovereign Debt Roundtable on Wednesday together with the heads of the International Monetary Fund and World Bank.

The group, which also includes creditors, borrowers and private sector players, released its progress report on the sidelines of the IMF-World Bank annual meetings in Bangkok. It was set up to help speed up treatments under the Common Framework following protracted processes in Zambia and Ghana.