An IMF team led by Edward Gemayel, IMF mission chief for Senegal, concluded a visit to Senegal on Tuesday to discuss corrective measures after the Court of Auditors reported misreported data from 2019-2023.
According to an IMF press release, the Aug. 19-26 mission reviewed the current debt situation and the authorities’ plans for fiscal reforms.
The IMF acknowledged Senegal’s commitment to fiscal transparency and accountability, highlighting discussions on improving public financial management and ensuring reliable budget reporting.
Audit firm Forvis Mazars revised government debt from 74.4 percent to 111 percent of GDP at end-2023 and 118.8 percent by end-2024.
Senegal’s economy showed resilience, growing 12.1 percent in Q1 2025, mainly due to oil and gas expansion, while non-hydrocarbon growth remained moderate.
Centralizing debt management, auditing payment arrears, creating a debt database and consolidating treasury accounts are key corrective measures outlined in the IMF release. Discussions on these measures will continue before being submitted to the IMF Executive Board.
Senegal intends to seek a new IMF-supported program aligned with Vision 2050, focusing on fiscal transparency, inclusive growth, human capital and climate resilience. Enditem
Source: Xinhua
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