Senegalese lawmakers will meet on Monday in the capital, Dakar, to consider a six-month extension of President Macky Sall's mandate, media reported.
The outlet added that due to developments in the West African country, its dollar bonds due in 2033 slipped 2.3% to 84.83 cents on the dollar by 8:48 am in London, while 2037 debt fell 3% to 71.03 cents on the dollar.
The president's postponement of the election came amid a legislative investigation of two Constitutional Council judges whose integrity in the election process was questioned.
The move has raised concerns from the Economic Community of West African States (ECOWAS) Commission and the African Union. Earlier in the day, AU Commission Chairman Moussa Faki Mahamat called on Senegal's leadership to hold transparent elections as soon as possible "in a spirit of transparency, peace and national harmony."
Earlier, Senegal's Constitutional Council approved 20 candidates for the presidential election, some of whom were hotly contested, in part because one of the candidates holds dual citizenship.
President Sall announced that he will not run for president in July 2023 in the address to the nation, instead nominates the country's prime minister, Amadou Ba, as the ruling party's candidate for the election.