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The International Monetary Fund (IMF) has praised Senegal for improving transparency in its financial reporting and indicated it is ready to support the West African nation with a new aid programme.
IMF Managing Director Kristalina Georgieva highlighted the country’s “important progress” in addressing past misrepresentations of budget deficits and public debt.
She commended Senegalese authorities for their “commitment to transparency, the actions taken to identify public debt liabilities, and their close collaboration with Fund staff on these issues.”
The IMF suspended a $1.8 billion credit line to Senegal last year following revelations of distorted economic data and fiscal mismanagement.
The misreporting was linked to the administration of former President Macky Sall, with an IMF review in March confirming inaccuracies in the country’s budget deficits and debt figures for 2019–2023.
Senegal has formally requested a new IMF-supported programme, and Georgieva said the country is “in a good position to move expeditiously forward on all fronts.”
She added that formal negotiations for the aid programme are expected to begin in mid-October during the IMF-World Bank Annual Meetings.
