Source: International Monetary Fund (IMF) |

Coronavirus - Senegal: International Monetary Fund (IMF) Executive Board Completes First Review Under the Policy Coordination Instrument for Senegal

The COVID-19 pandemic is taking a heavy toll on Senegal’s economy

The COVID-19 pandemic is taking a heavy toll on the economy with growth projected at 1.1 percent in 2020 compared to 5.3 percent in 2019; The authorities have taken significant actions to contain the pandemic and mitigate its economic fallout, supported by additional financing from Senegal's development partners and participation…

Source: International Monetary Fund (IMF) |

Coronavirus - Senegal: International Monetary Fund (IMF) Staff completes Review Mission to Senegal

The COVID-19 pandemic has had a significant impact on economic activity, exacerbated by border closures, a curfew, and social distancing

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Concludes 2019 Discussions with the West African Economic and Monetary Union on Common Policies for Member Countries

Fiscal consolidation efforts are estimated to have led to a reduction of the aggregate fiscal deficit to 3.9 percent of GDP in 2018 from 4.3 percent of GDP in 2017

Inflation has remained low reflecting the peg to the Euro, but also continued solid agricultural production and the limited passthrough of higher world oil prices; fiscal consolidation efforts are estimated to have led to a reduction of the aggregate fiscal deficit to 3.9 percent of GDP in 2018 from 4.3…

Source: International Monetary Fund (IMF) |

Looking Ahead to Chart Today’s Course: The Future of Work in sub-Saharan Africa

Opening Remarks by Christine Lagarde, Managing Director, International Monetary Fund

As Prepared for Delivery Introduction Thank you, Minister Gyan-Baffour, for that kind introduction. I would like to extend my sincere gratitude to Vice-President Bawumia and the Ghanaian government for co-hosting this conference with the IMF. Your excellency, Vice-President Bawumia, Minister Gyan-Baffour, honored guests — it is my pleasure to welcome…

Source: International Monetary Fund (IMF) |

International Monetary Fund (IMF) Staff Completes Review Mission to Senegal

The authorities indicated their firm commitment to meet the fiscal deficit target increased to 3.5 percent of GDP in 2018

Economic growth has continued to be strong, while inflation has remained low. The authorities indicated their firm commitment to meet the fiscal deficit target increased to 3.5 percent of GDP in 2018. Senegal continues to manage its debt carefully. A staff team from the International Monetary Fund (IMF), led by…

Source: International Monetary Fund (IMF) |

Senegal: Statement by International Monetary Fund African Department Director Abebe Aemro Selassie at the Conclusion of his Visit

It will be important for the Senegalese authorities to enhance tax revenue mobilization to sustain much needed development spending and maintain debt sustainability. The WAEMU region has accomplished considerable economic progress, with high growth rates over the last six years.  Sustaining this trend and containing macroeconomic imbalances will require adhesion to…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Conclude 2018 Discussions with the West African Economic and Monetary Union on Common Policies for Member Countries

Real GDP growth in the WAEMU is estimated above 6 percent in 2017 for the sixth consecutive year, despite adverse terms of trade shocks and security concerns

Real GDP growth in the WAEMU is estimated above 6 percent in 2017 for the sixth consecutive year, despite adverse terms of trade shocks and security concerns. Convergence of WAEMU countries’ budget deficits of 3% of GDP by 2019 is crucial for ensuring macroeconomic stability and sustaining growth. An ambitious…

Source: International Monetary Fund (IMF) |

Senegal - IMF Executive Board Completes Fifth Review Under the Policy Support Instrument (PSI)

Growth is expected to exceed 6 percent in 2017 for the third year in a row, while inflation remains low

The Executive Board of the International Monetary Fund (IMF) completed the fifth review of Senegal’s economic performance under a program supported by the Policy Support Instrument (PSI). 1 The PSI supports the authorities’ macroeconomic reforms designed to advance the Plan Sénégal Emergent (PSE), the authorities’ strategy to increase growth and reduce poverty while preserving…

Source: International Monetary Fund (IMF) |

Launch of the October 2017 International Monetary Fund (IMF)

Regional Economic Outlook for Sub-Saharan Africa - Monday, October 30, 2017

Launch of the October 2017 IMF Regional Economic Outlook Report titled, Sub-Saharan Africa: Fiscal Adjustment and Economic Diversification Where: In Zimbabwe, Meikles Hotel, Harare, Zimbabwe; In Senegal, Pullman Teranga, Dakar, Senegal  When: Monday, October 30, 2017 at 9:00 a.m. local time in Zimbabwe and 9:00 a.m. local time in Senegal  …

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Fourth Review Under the Policy Support Instrument (PSI) and Extends Arrangement for Senegal

The Policy Support Instrument with Senegal has supported the authorities’ reform efforts to increase growth

The program aims to implement economic policies and structural reforms needed to sustain strong growth and ongoing fiscal consolidation to meet the regional fiscal criteria. The Policy Support Instrument with Senegal has supported the authorities’ reform efforts to increase growth. Under the Plan Sénégal Emergent (PSE), growth has increased steadily…