IBOV 173,107.90 ▼ 0.15% IPSA 10,963.36 ▲ 0.61% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,294,537 ▲ 2.20% COLCAP 2,319.30 ▲ 0.91% BVL PERÚ 56,620.35 — — USD/BRL5.07▼ 0.38% USD/MXN17.39▼ 0.22% USD/CLP933.93▼ 0.06% USD/COP3,223▼ 1.39% USD/PEN3.39▲ 0.09% USD/ARS1,478▼ 0.27% USD/UYU40.11▲ 1.23% USD/PYG6,045▲ 1.76% USD/BOB10.80▲ 2.69% USD/DOP58.02▲ 0.31% USD/CRC446.12▲ 1.15% USD/GTQ7.62▲ 2.33% USD/HNL26.74▲ 1.61% USD/NIO36.62▲ 0.84% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 0.73% USD/TTD6.73▲ 1.11% EUR/BRL5.78▼ 1.28% BRENT 91.39 ▲ 2.43% WTI 84.63 ▲ 1.68% IRON ORE 161.91 — — COPPER 6.53 ▲ 3.64% GOLD 4,090 ▲ 1.97% SILVER 59.09 ▲ 4.03% SOY 1,222 ▼ 0.31% CORN 475.25 ▲ 5.73% WHEAT 678.50 ▲ 0.67% COFFEE 322.80 ▼ 3.47% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 142.30 ▼ 3.46% COTTON 80.03 ▲ 3.44% COCOA 5,606 ▲ 1.56% BEEF 223.05 ▼ 1.53% CATTLE 344.88 ▼ 2.02% LITHIUM 69.09 ▲ 3.24% PETR4 41.67 ▲ 1.26% VALE3 72.27 ▲ 0.47% ITUB4 42.53 ▲ 0.54% BBDC4 18.59 ▲ 0.98% ABEV3 15.84 ▲ 0.32% BBAS3 20.78 ▲ 3.02% B3SA3 15.12 ▼ 0.92% WEGE3 42.63 ▼ 1.16% PRIO3 58.41 ▲ 1.25% SUZB3 41.70 ▼ 0.45% RENT3 36.57 ▼ 2.45% AZZA3 17.50 ▼ 3.69% CSAN3 3.79 ▼ 0.79% RAIZ4 0.28 ▲ 3.70% PCAR3 2.72 ▲ 4.62% GMAT3 3.82 ▼ 0.78% PSSA3 53.31 ▼ 1.64% CVCB3 1.14 ▲ 5.56% POSI3 3.73 ▲ 0.81% SLCE3 13.65 ▲ 0.59% NATU3 8.71 ▲ 0.93% BRKM5 5.76 ▼ 3.03% RANI3 7.90 ▼ 1.13% CSNA3 5.05 ▼ 0.39% CMIN3 5.55 ▲ 2.97% USIM5 8.45 ▲ 3.55% GGBR4 23.46 ▼ 0.68% ENEV3 25.42 ▼ 0.90% CPFE3 46.71 ▲ 0.84% CMIG4 11.05 ▲ 0.27% EQTL3 38.63 ▼ 1.68% LREN3 13.27 ▼ 0.30% VIVT3 35.74 ▲ 0.20% RAIL3 13.24 ▼ 2.43% KLABIN 17.57 ▲ 0.51% RAIA DROGASIL 18.16 ▼ 2.84% RDOR3 33.76 ▼ 4.77% HAPV3 11.23 ▼ 2.77% FLRY3 16.44 ▼ 0.72% SMTO3 15.49 ▲ 0.52% UGPA3 31.75 ▲ 0.16% VBBR3 33.88 ▼ 0.67% BBSE3 41.47 ▲ 1.02% BPAC11 55.75 ▼ 0.16% CURY3 29.84 ▼ 1.16% AERI3 2.05 ▼ 0.97% VIVARA 21.48 ▼ 2.19% COMPASS 24.40 ▼ 0.81% VAMOS 3.06 ▼ 0.97% SANB11 27.31 ▲ 1.11% ASAI3 8.21 ▲ 0.86% SBSP3 28.77 ▼ 0.72% WALMEX 49.23 ▼ 0.30% GMEXICO 208.07 ▲ 3.61% FEMSA 226.57 ▼ 0.18% CEMEX 22.04 ▲ 0.73% GFNORTE 186.21 ▲ 3.45% BIMBO 59.14 ▼ 0.61% TELEVISA 9.74 ▲ 0.31% AMX 22.77 ▲ 0.13% GAP 377.91 ▼ 0.07% ASUR 274.92 ▲ 0.20% OMA 225.68 ▼ 0.34% KOF 180.95 ▲ 0.08% GRUMA 283.31 ▼ 1.49% KIMBER 38.17 ▼ 0.57% SQM-B 64,600 ▲ 2.34% COPEC 6,380 ▲ 2.91% BSANTANDER 79.66 ▲ 4.69% FALABELLA 5,904 ▲ 0.49% ENELAM 84.67 ▲ 0.67% CENCOSUD 2,015 ▲ 1.03% CMPC 1,085 ▲ 1.76% BANCO CHILE 190.70 ▲ 2.26% LATAM AIR 24.29 ▼ 0.49% YPF 80,600 ▲ 1.77% GGAL 7,965 ▲ 1.53% PAMPA 5,495 ▲ 4.27% TXAR 675.00 ▲ 0.67% ALUAR 970.00 ▲ 1.09% TGS 9,755 ▲ 2.68% CEPU 2,353 ▲ 2.80% MIRGOR 16,825 ▼ 1.75% COME 43.10 ▲ 0.35% LOMA NEGRA 3,605 ▲ 0.91% BYMA 293.75 — 0.00% TELECOM ARG 4,215 ▲ 1.69% ECOPETROL 16.49 ▲ 2.84% BANCOLOMBIA 83.65 ▲ 3.50% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 392.21 ▲ 1.39% SOUTHERN COPPER 185.98 ▲ 6.23% BUENAVENTURA 31.25 ▲ 3.96% MERCADOLIBRE 1,816 ▼ 0.90% NUBANK 14.25 ▲ 1.82% XP 16.77 ▼ 0.21% PAGSEGURO 9.57 ▲ 3.01% STONE 11.31 ▲ 1.71% GLOBANT 32.04 ▼ 0.79% TECNOGLASS 45.37 ▼ 1.60% GAP AIRPORT 217.44 ▲ 0.15% ASUR 274.92 ▲ 0.20% OMA AIRPORT 103.83 ▼ 0.17% AMX ADR 26.14 ▲ 0.13% FEMSA ADR 130.31 ▲ 0.23% CEMEX ADR 12.68 ▲ 1.52% PETROBRAS ADR 18.52 ▲ 1.79% VALE ADR 14.23 ▲ 0.92% ITAU ADR 8.39 ▲ 0.78% SANTANDER BR 5.42 ▲ 0.84% AMBEV ADR 3.11 ▲ 0.97% CSN 1.01 — 0.00% GERDAU 4.64 ▼ 0.86% LATAM ADR 51.95 ▲ 0.40% BTC 66,453 ▲ 1.88% ETH 1,924 ▲ 1.07% SOL 77.93 ▲ 0.18% XRP 1.16 ▲ 4.23% BNB 572.88 ▲ 0.38% ADA 0.17 ▲ 2.37% DOGE 0.07 ▲ 1.96% AVAX 6.62 ▲ 0.67% LINK 8.62 ▲ 0.40% DOT 0.86 ▲ 3.61% LTC 47.14 ▼ 0.42% BCH 223.95 ▲ 1.84% TRX 0.33 ▲ 0.85% XLM 0.19 ▲ 2.85% HBAR 0.07 ▲ 4.49% NEAR 1.93 ▼ 2.25% ATOM 1.49 ▼ 0.47% AAVE 95.26 ▲ 6.11% SELIC 14.25% EMBRAER 82.92 ▼ 0.44% EMBRAER ADR 65.43 ▼ 0.76% JBS 11.92 ▼ 0.96% JBS BDR 60.39 ▼ 0.66% MBRF3 15.11 ▲ 4.06% MBRFY 2.95 ▲ 1.37% INTER 5.53 ▼ 1.60% EGX 53,990 ▲ 1.63% USD/ZAR16.47▼ 0.38% USD/NGN1,376▼ 0.27% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY163.19▲ 0.43% USD/CNY6.77▼ 0.03% DAX 25,011 ▲ 0.66% CAC 8,363 ▲ 0.28% FTSE 10,586 ▲ 0.58% MIB 52,285 ▲ 0.81% IBEX 19,380 ▲ 0.90% STOXX 643.19 ▲ 0.56% EUR/USD1.14▼ 0.10% GBP/USD1.34▼ 0.48% SPX 7,508 ▲ 0.87% DJI 52,237 ▲ 0.77% NDX 29,128 ▲ 1.83% RUT 2,980 ▲ 1.27% TSX 35,289 ▲ 0.94% VIX 16.99 ▼ 8.90% USD/CAD1.41▲ 0.26% US10Y 4.6280 ▲ 0.65% IBOV 173,107.90 ▼ 0.15% IPSA 10,963.36 ▲ 0.61% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,294,537 ▲ 2.20% COLCAP 2,319.30 ▲ 0.91% BVL PERÚ 56,620.35 — — USD/BRL 5.07 ▼ 0.38% USD/MXN 17.39 ▼ 0.22% USD/CLP 933.93 ▼ 0.06% USD/COP 3,223 ▼ 1.39% USD/PEN 3.39 ▲ 0.09% USD/ARS 1,478 ▼ 0.27% USD/UYU 40.11 ▲ 1.23% USD/PYG 6,045 ▲ 1.76% USD/BOB 10.80 ▲ 2.69% USD/DOP 58.02 ▲ 0.31% USD/CRC 446.12 ▲ 1.15% USD/GTQ 7.62 ▲ 2.33% USD/HNL 26.74 ▲ 1.61% USD/NIO 36.62 ▲ 0.84% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 0.73% USD/TTD 6.73 ▲ 1.11% EUR/BRL 5.78 ▼ 1.28% BRENT 91.39 ▲ 2.43% WTI 84.63 ▲ 1.68% IRON ORE 161.91 — — COPPER 6.53 ▲ 3.64% GOLD 4,090 ▲ 1.97% SILVER 59.09 ▲ 4.03% SOY 1,222 ▼ 0.31% CORN 475.25 ▲ 5.73% WHEAT 678.50 ▲ 0.67% COFFEE 322.80 ▼ 3.47% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 142.30 ▼ 3.46% COTTON 80.03 ▲ 3.44% COCOA 5,606 ▲ 1.56% BEEF 223.05 ▼ 1.53% CATTLE 344.88 ▼ 2.02% LITHIUM 69.09 ▲ 3.24% PETR4 41.67 ▲ 1.26% VALE3 72.27 ▲ 0.47% ITUB4 42.53 ▲ 0.54% BBDC4 18.59 ▲ 0.98% ABEV3 15.84 ▲ 0.32% BBAS3 20.78 ▲ 3.02% B3SA3 15.12 ▼ 0.92% WEGE3 42.63 ▼ 1.16% PRIO3 58.41 ▲ 1.25% SUZB3 41.70 ▼ 0.45% RENT3 36.57 ▼ 2.45% AZZA3 17.50 ▼ 3.69% CSAN3 3.79 ▼ 0.79% RAIZ4 0.28 ▲ 3.70% PCAR3 2.72 ▲ 4.62% GMAT3 3.82 ▼ 0.78% PSSA3 53.31 ▼ 1.64% CVCB3 1.14 ▲ 5.56% POSI3 3.73 ▲ 0.81% SLCE3 13.65 ▲ 0.59% NATU3 8.71 ▲ 0.93% BRKM5 5.76 ▼ 3.03% RANI3 7.90 ▼ 1.13% CSNA3 5.05 ▼ 0.39% CMIN3 5.55 ▲ 2.97% USIM5 8.45 ▲ 3.55% GGBR4 23.46 ▼ 0.68% ENEV3 25.42 ▼ 0.90% CPFE3 46.71 ▲ 0.84% CMIG4 11.05 ▲ 0.27% EQTL3 38.63 ▼ 1.68% LREN3 13.27 ▼ 0.30% VIVT3 35.74 ▲ 0.20% RAIL3 13.24 ▼ 2.43% KLABIN 17.57 ▲ 0.51% RAIA DROGASIL 18.16 ▼ 2.84% RDOR3 33.76 ▼ 4.77% HAPV3 11.23 ▼ 2.77% FLRY3 16.44 ▼ 0.72% SMTO3 15.49 ▲ 0.52% UGPA3 31.75 ▲ 0.16% VBBR3 33.88 ▼ 0.67% BBSE3 41.47 ▲ 1.02% BPAC11 55.75 ▼ 0.16% CURY3 29.84 ▼ 1.16% AERI3 2.05 ▼ 0.97% VIVARA 21.48 ▼ 2.19% COMPASS 24.40 ▼ 0.81% VAMOS 3.06 ▼ 0.97% SANB11 27.31 ▲ 1.11% ASAI3 8.21 ▲ 0.86% SBSP3 28.77 ▼ 0.72% WALMEX 49.23 ▼ 0.30% GMEXICO 208.07 ▲ 3.61% FEMSA 226.57 ▼ 0.18% CEMEX 22.04 ▲ 0.73% GFNORTE 186.21 ▲ 3.45% BIMBO 59.14 ▼ 0.61% TELEVISA 9.74 ▲ 0.31% AMX 22.77 ▲ 0.13% GAP 377.91 ▼ 0.07% ASUR 274.92 ▲ 0.20% OMA 225.68 ▼ 0.34% KOF 180.95 ▲ 0.08% GRUMA 283.31 ▼ 1.49% KIMBER 38.17 ▼ 0.57% SQM-B 64,600 ▲ 2.34% COPEC 6,380 ▲ 2.91% BSANTANDER 79.66 ▲ 4.69% FALABELLA 5,904 ▲ 0.49% ENELAM 84.67 ▲ 0.67% CENCOSUD 2,015 ▲ 1.03% CMPC 1,085 ▲ 1.76% BANCO CHILE 190.70 ▲ 2.26% LATAM AIR 24.29 ▼ 0.49% YPF 80,600 ▲ 1.77% GGAL 7,965 ▲ 1.53% PAMPA 5,495 ▲ 4.27% TXAR 675.00 ▲ 0.67% ALUAR 970.00 ▲ 1.09% TGS 9,755 ▲ 2.68% CEPU 2,353 ▲ 2.80% MIRGOR 16,825 ▼ 1.75% COME 43.10 ▲ 0.35% LOMA NEGRA 3,605 ▲ 0.91% BYMA 293.75 — 0.00% TELECOM ARG 4,215 ▲ 1.69% ECOPETROL 16.49 ▲ 2.84% BANCOLOMBIA 83.65 ▲ 3.50% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 392.21 ▲ 1.39% SOUTHERN COPPER 185.98 ▲ 6.23% BUENAVENTURA 31.25 ▲ 3.96% MERCADOLIBRE 1,816 ▼ 0.90% NUBANK 14.25 ▲ 1.82% XP 16.77 ▼ 0.21% PAGSEGURO 9.57 ▲ 3.01% STONE 11.31 ▲ 1.71% GLOBANT 32.04 ▼ 0.79% TECNOGLASS 45.37 ▼ 1.60% GAP AIRPORT 217.44 ▲ 0.15% ASUR 274.92 ▲ 0.20% OMA AIRPORT 103.83 ▼ 0.17% AMX ADR 26.14 ▲ 0.13% FEMSA ADR 130.31 ▲ 0.23% CEMEX ADR 12.68 ▲ 1.52% PETROBRAS ADR 18.52 ▲ 1.79% VALE ADR 14.23 ▲ 0.92% ITAU ADR 8.39 ▲ 0.78% SANTANDER BR 5.42 ▲ 0.84% AMBEV ADR 3.11 ▲ 0.97% CSN 1.01 — 0.00% GERDAU 4.64 ▼ 0.86% LATAM ADR 51.95 ▲ 0.40% BTC 66,453 ▲ 1.88% ETH 1,924 ▲ 1.07% SOL 77.93 ▲ 0.18% XRP 1.16 ▲ 4.23% BNB 572.88 ▲ 0.38% ADA 0.17 ▲ 2.37% DOGE 0.07 ▲ 1.96% AVAX 6.62 ▲ 0.67% LINK 8.62 ▲ 0.40% DOT 0.86 ▲ 3.61% LTC 47.14 ▼ 0.42% BCH 223.95 ▲ 1.84% TRX 0.33 ▲ 0.85% XLM 0.19 ▲ 2.85% HBAR 0.07 ▲ 4.49% NEAR 1.93 ▼ 2.25% ATOM 1.49 ▼ 0.47% AAVE 95.26 ▲ 6.11% SELIC 14.25% EMBRAER 82.92 ▼ 0.44% EMBRAER ADR 65.43 ▼ 0.76% JBS 11.92 ▼ 0.96% JBS BDR 60.39 ▼ 0.66% MBRF3 15.11 ▲ 4.06% MBRFY 2.95 ▲ 1.37% INTER 5.53 ▼ 1.60% EGX 53,990 ▲ 1.63% USD/ZAR 16.45 ▼ 0.25% USD/NGN 1,376 ▲ 0.02% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY 163.17 ▲ 0.44% USD/CNY 6.7651 ▲ 0.11% DAX 25,011 ▲ 0.66% CAC 8,363 ▲ 0.28% FTSE 10,586 ▲ 0.58% MIB 52,285 ▲ 0.81% IBEX 19,380 ▲ 0.90% STOXX 643.19 ▲ 0.56% EUR/USD 1.1406 ▼ 0.07% GBP/USD 1.3384 ▼ 0.31% SPX 7,508 ▲ 0.87% DJI 52,237 ▲ 0.77% NDX 29,128 ▲ 1.83% RUT 2,980 ▲ 1.27% TSX 35,289 ▲ 0.94% VIX 16.99 ▼ 8.90% USD/CAD 1.4106 ▲ 0.20% US10Y 4.6280 ▲ 0.65%
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Africa Western Africa

Senegal’s Political Shakeup: President Faye Dissolves Parliament, Calls for Early Elections

By · September 13, 2024 · 2 min read

Africa Intelligence

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In a bold move, Senegal’s President Bassirou Diomaye Faye dissolved the opposition-led National Assembly on September 12, 2024.

This decision comes just six months after his election victory in March. Faye announced snap legislative elections for November 17, 2024, aiming to secure a parliamentary majority for his party.

The dissolution follows months of tension between the executive and legislative branches. Faye cited the parliament’s refusal to discuss budget laws and resistance to dissolving certain state institutions as reasons for his action.

In addition, the president seeks to implement his promised reforms and systemic changes. Senegal, often seen as a beacon of stability in West Africa, now faces a critical juncture.

The country’s democratic institutions are being tested as it navigates this political transition. Faye’s victory in March marked a significant shift, as he became Africa’s youngest elected president at 44.

Senegal's Political Shakeup: President Faye Dissolves Parliament, Calls for Early Elections
Senegal’s Political Shakeup: President Faye Dissolves Parliament, Calls for Early Elections. (Photo Internet reproduction)
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The upcoming elections will be crucial for Faye‘s PASTEF party. Currently lacking a majority in parliament, they hope to gain the necessary seats to push forward their agenda.

However, this includes anti-corruption measures and economic reforms prioritizing national interests. Senegal’s economy has been struggling with high inflation and youth unemployment.

Over 60% of the population is under 25, with 90% working in informal jobs. In addition, these economic challenges have fueled support for Faye’s promises of change.

Faye’s Decision and Its Implications

The opposition, led by the Benno Bokk Yakaar coalition, has criticized Faye’s decision. They accuse him of manipulating institutions for political gain. This tension highlights the delicate balance of power in Senegal‘s democracy.

Faye’s actions align with constitutional provisions. The dissolution comes exactly two years after the current parliament was elected, the minimum time required before calling new elections.

Additionally, the constitution mandates that elections be held within 60 to 90 days of dissolution. The international community is closely watching these developments.

Senegal’s stability has made it an important partner in a region plagued by coups and political unrest. The outcome of these elections could have far-reaching implications for West African politics.

In addition, as Senegal prepares for this unexpected electoral process, citizens and observers alike are pondering the future.

Will Faye’s gambit pay off, allowing him to implement his vision? Or will it lead to further political gridlock? The answers will unfold in the coming months, shaping Senegal’s trajectory for years to come.

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