Ghana has just concluded one of the most complex debt restructurings in sub-Saharan Africa. With a debt increased from 93% to ~45% of GDP in less than 3 years, « Ghanaian miracle » shows a technical model. But at what cost? And above all, are these solutions transferable in Senegal, stuck at 132% debt/post-audit GDP? Ghana Model: Brutal but Effective Recovery President Mahama announced on May 15, 2026 that Ghana had formally concluded its $3 billion support program with the International Monetary Fund (IMF). The IMF's $3 billion bailout plan was structured around three simultaneous restructurings: 1. Internal (2023): Forced exchange of local treasury bills for new securities at reduced rates → National savings freeze 2. Bilateral (2024-2025): USD 2.8 billion carry-over due to 25...