International Monetary Fund (IMF) Staff Concludes Mission to Senegal

The mission made significant progress in the discussions on policies and reforms

An International Monetary Fund (IMF) mission, led by Mr. Edward Gemayel, visited Senegal during November 4-15, 2022, to conduct the sixth and final review under the Policy Coordination Instrument (PCI) and the third and final reviews under the Stand-By Credit Facility (SCF) and Stand-By-Arrangement (SBA). The IMF mission met with…

IMF Staff Concludes Visit to Senegal

Maintaining fiscal discipline in the face of rising energy and food prices as well as rising social demands, will be critical for preserving debt sustainability

Growth surprised on the upside in 2021. However, the outlook is clouded by the impact of the war in Ukraine, which is likely to put the economy under strain; Maintaining fiscal discipline in the face of rising energy and food prices as well as rising social demands, will be critical…

IMF Executive Board Completes the Fourth Review Under the Policy Coordination Instrument and the First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Concludes the 2021 Article IV Consultation for Senegal

Senegal’s three-year PCI was approved on January 10, 2020

Recent indicators suggest that a strong recovery is underway, driven by industrial production, services, and retail activity. COVID-19 case numbers remain comparatively low and about 14 percent of the adult population is vaccinated. Performance under the program remains satisfactory. Concurrently with the PCI, the SCF/SBA arrangements are helping support the…

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…

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…

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…