Senegal's international bonds extend rally after IMF announces August mission

NAIROBI, July 25 (Reuters) - Senegal's international bonds extended their rally on Friday, the day after the International Monetary Fund said it would send a mission to Dakar next month to discuss the West African nation's debt misreporting case and a potential new programme.

The 2033 dollar bond XS1619155564=TE rose 1.6 cents to bid at 72.223 cents on the dollar, Tradeweb data showed, while the euro-denominated 2028 maturity XS1790105180=TE jumped 2.2 cents to bid at 85.103 cents on the euro.

Analysts said the positive sentiment had lifted bonds elsewhere in sub-Saharan Africa, with Gabon's dollar debt also chalking up price gains.

"The good news on Senegal seems to be helping all African bonds ... the assumption is that the IMF doesn't want to see anyone default," said Charlie Robertson, head of macro-strategy at FIM Partners.

Gabon's February 2031 maturity rose by more than a cent to bid at 80.353 cents on the dollar, Tradeweb showed, while the November 2031 maturity also gained by more than a cent to bid at 81.194 cents.

Investors have also been sitting on cash, said Leo Morawiecki, an investment specialist with asset manager Aberdeen in London, making assets from frontier economies like Mozambique, Gabon and Cameroon potentially rewarding "if you get it right".