LONDON - Senegal is expected to ​appoint Lazard ⁠as its financial advisor ‌on debt matters, according to a source ​familiar with the situation, as ​investors watch closely how ​the country plans to tackle its debt ⁠burden.

The West African nation has been working to shore up public finances since 2024, ​when ‌the then-new ⁠government ⁠disclosed previously unreported debts that eventually topped $13 ​billion, more than ‌a quarter of ⁠its gross domestic product.

A selection process has been underway to choose a financial advisor in recent days, sources told Reuters last week.

Lazard declined to comment. ‌Senegal's finance ministry did not immediately respond ⁠to a request ​for comment.