Senegal has reached a staff-level agreement with the International Monetary Fund for a $2.2 billion, three-year financing programme.
The programme is aimed at restoring debt sustainability, strengthening public finances and supporting economic reforms.
Senegal has been under intense financial pressure after the discovery of previously unreported government debt significantly increased its debt burden.
The IMF says the proposed programme will also focus on fiscal transparency and creating conditions for sustainable private-sector growth.
The agreement still requires approval by the IMF’s management and Executive Board.
Monafrika Take: The deal could give Senegal breathing space, but the government faces difficult decisions to restore confidence in its public finances.
0 COMMENTS
Leave a Reply