The China Mail - Fallout from Senegal unrest hits economy

USD -
AED 3.672504
AFN 65.000368
ALL 81.216919
AMD 362.051328
ANG 1.789785
AOA 917.000367
ARS 1515.25437
AUD 1.435956
AWG 1.80125
AZN 1.70397
BAM 1.739803
BBD 2.01708
BDT 123.195303
BGN 1.747831
BHD 0.378775
BIF 2997.464751
BMD 1
BND 1.281146
BOB 11.69239
BRL 5.065104
BSD 1.001468
BTN 95.050483
BWP 13.720589
BYN 3.015879
BYR 19600
BZD 2.014233
CAD 1.41575
CDF 2313.50392
CHF 0.825932
CLF 0.024881
CLP 979.255437
CNY 6.691204
CNH 6.686704
COP 3173.953654
CRC 455.099408
CUC 1
CUP 24.035938
CVE 98.087444
CZK 21.645304
DJF 178.33919
DKK 6.651204
DOP 61.433083
DZD 133.824668
EGP 53.529689
ERN 15
ETB 163.585998
EUR 0.889904
FJD 2.26765
FKP 0.750199
GBP 0.752078
GEL 2.590391
GGP 0.750199
GHS 11.695058
GIP 0.750199
GMD 73.503851
GNF 8810.21216
GTQ 7.652004
GYD 209.527198
HKD 7.84815
HNL 26.885202
HRK 6.703804
HTG 131.147978
HUF 323.310388
IDR 18053
ILS 3.09465
IMP 0.750199
INR 94.965504
IQD 1518.213762
IRR 1795877.503816
ISK 121.180386
JEP 0.750199
JMD 159.195837
JOD 0.70904
JPY 158.01504
KES 130.098296
KGS 87.450384
KHR 4070.631144
KMF 440.00035
KPW 899.999961
KRW 1334.740383
KWD 0.31082
KYD 0.834586
KZT 453.195748
LAK 22534.359294
LBP 89683.40524
LKR 331.690611
LRD 170.751234
LSL 16.462394
LTL 2.95274
LVL 0.60489
LYD 6.431526
MAD 9.729662
MDL 17.966464
MGA 4507.405595
MKD 54.836988
MMK 2099.858992
MNT 3597.263832
MOP 8.096339
MRU 40.037362
MUR 47.230378
MVR 15.460378
MWK 1736.600987
MXN 18.492904
MYR 4.083204
MZN 63.903729
NAD 16.462394
NGN 1331.210377
NIO 36.854512
NOK 9.427704
NPR 152.081128
NZD 1.767253
OMR 0.382413
PAB 1.001468
PEN 3.444825
PGK 4.547436
PHP 62.986038
PKR 277.237468
PLN 3.88825
PYG 5719.877241
QAR 3.660721
RON 4.730604
RSD 104.461148
RUB 84.13468
RWF 1478.183516
SAR 3.752837
SBD 8.064647
SCR 13.905529
SDG 601.503676
SEK 9.912404
SGD 1.282104
SHP 0.754745
SLE 24.680371
SLL 20969.504398
SOS 572.343548
SRD 37.794504
STD 20697.981008
STN 21.794245
SVC 8.763065
SYP 13001.999685
SZL 16.455989
THB 33.445038
TJS 9.228751
TMT 3.51
TND 2.98768
TOP 2.40776
TRY 49.513804
TTD 6.798915
TWD 32.453604
TZS 2646.44398
UAH 44.920874
UGX 4136.458658
UYU 40.314905
UZS 12073.121914
VES 878.910604
VND 25894.5
VUV 119.757204
WST 2.787783
XAF 583.738825
XAG 0.017551
XAU 0.000240063761
XCD 2.70255
XCG 1.804919
XDR 0.707052
XOF 583.738825
XPF 106.089045
YER 236.150363
ZAR 16.494037
ZMK 9001.203584
ZMW 20.049815
ZWL 321.999592
SSP 5758.113256
MXV 2.088032
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

Fallout from Senegal unrest hits economy
Fallout from Senegal unrest hits economy / Photo: © AFP

Fallout from Senegal unrest hits economy

As Senegalese struggle with the aftermath of deadly protests sparked by the conviction of an opposition leader, attention is shifting to the impact on the nation's economy.

Text size:

Two days of violence last week have cost "billions of CFA francs" -- tens of millions of dollars -- and political risk is threatening this year's growth targets, said consultant economist Mansour Sambe.

The West African state has long surfed on its reputation for stability in a region plagued by coups.

But that cosy image has been dented by clashes between the security forces and supporters of firebrand presidential candidate Ousmane Sonko.

Sixteen people died and hundreds were injured or arrested after Sonko on Thursday was sentenced to two years on charges of "corrupting" a young woman.

That verdict was the outcome of a two-year case for rape charges that transfixed the country, triggering sporadic unrest that had already claimed a dozen lives.

In a country that has only a meagre social safety net, many Senegalese live in precarity and eye disruption with dread.

- 'If you work, you eat' -

Magaye Gaye, a 19-year-old toiletries seller at the Sandaga market in Dakar, said he had closed his stall on the eve of the trial's outcome.

Several days without business had left him with almost nothing.

"I have spent all my savings just to survive," he told AFP.

Clothing seller Modou Gueye, 46, was in a similar predicament.

"Clients have stayed away because they are afraid," he said Monday. "We live from one day to the next. If you have work, you eat, if you have no work, you go hungry."

For many poor Senegalese, the coming Muslim festival of Tabaski is a daunting moment, as it requires the purchase of lamb for the traditional family feast.

Some have been badly hit by the government move at the weekend to suspend mobile internet access after it blocked access to social media, since millions use mobile phones to transfer money.

"The banks have been closed since Wednesday," Ady Thiam, a 45-year-old accountant, said while waiting in line on Monday.

"You can't get your wages or your pension. Daily workers aren't being paid. People can't get medical treatment," he said.

"People have so little anyway -- this is what causes them to revolt."

- 'Political risks' -

Further tension seems almost inevitable.

The next flashpoint could be when Sonko -- believed to be at his home in Dakar, surrounded by police -- is taken into custody to serve his sentence.

Then there are the potentially stormy waters of next year's presidential elections, for which Sonko now appears to be ineligible.

"The biggest danger for investors are political risks," Sambe said.

Before the unrest, economists had been expecting growth of nine to 10 percent for 2023, he said.

But with uncertainty hanging over the 2024 election, "the entire second half (of 2023) could be lost", he said.

Sambe urged President Macky Sall to intervene, saying, "He has to reassure the public".

- Spotlight on Sall -

But Sall's own credibility is on the line.

Sonko's supporters say their champion, like other Sall rivals before him, is being persecuted by a manipulated judicial system -- a charge the president denies.

But Sall himself has stoked uncertainty, refusing to say clearly whether he will bid for a third presidential term, a move critics say would breach the constitution.

Of all the crises that modern Senegal has faced, the present one "is the easiest to resolve," three leading intellectuals said in an open letter on Monday.

"All it would need is for one man to say, 'I am not going to seek a third term, which would dishonour my word, my country and its constitution'."

The letter was penned by award-winning writers Mohamed Mbougar Sarr and Boubacar Boris Diop, and Felwine Sarr, who co-wrote a landmark report on the restitution of African cultural artefacts.

Sall on Monday paid a surprise late-night visit to Serigne Bassirou Mountakha Mbacke, the spiritual leader of an influential Muslim fraternity, the daily Soleil reported on Tuesday.

"The wisdom of his advice in some situations can help restore peace and stability," it said.

Meanwhile, Dakar announced it was closing several foreign consulates -- notably in Paris, Bordeaux, Milan and New York -- which have come under attack amid the unrest.

E.Choi--ThChM