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…

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…

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…

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…

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…

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…

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  …

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…

Germany and IMF Strengthen Capacity Development Cooperation in Africa

The Compact with Africa is an initiative launched under Germany’s G-20 Presidency in December 2016 and aims to boost private investment and increase infrastructure development in Africa

The IMF welcomes Germany’s commitment to strengthening its collaboration with the IMF on capacity development. Wolfgang Schäuble, Germany’s Federal Minister of Finance and Christine Lagarde, Managing Director of the International Monetary Fund (IMF), today signed a Letter of Understanding whereby the German Ministry of Finance will provide €15 million in support…

IMF Staff Completes the Fourth PSI Review Visit to Senegal

The macroeconomic performance remained solid in 2016, with GDP growth above 6 percent for the second consecutive year

The macroeconomic performance remained solid in 2016, with GDP growth above 6 percent for the second consecutive year Prudent fiscal policy in line with WAEMU convergence criteria should also help safeguard the Union’s stability Reaching the Plan Sénégal Emergent (PSE) objectives also requires a faster pace of reform to promote private…