Omar Youm welcomes announcement of progress towards IMF agreement

Omar Youm believes that the announcement of decisive progress towards an agreement with the International Monetary Fund (IMF) represents a “bright spot” for Senegal. In an op-ed published by Dakaractu, he says the country must restore the confidence of the institution and the international financial community.

An agreement yet to be defined

However, the author calls for waiting until the potential agreement is presented in detail. He notably refers to commitments that could involve mobilising new revenue, reducing certain expenditure, streamlining subsidies, as well as efforts that may be required of households and businesses.

Financing development

According to Omar Youm, access to financing on sustainable terms is necessary to fund development. He adds that this approach does not, in his view, preclude examining and implementing domestic financing mechanisms.

His assessment comes in a context which he describes as having been marked, for nearly two years, by hesitations and contradictory statements on the economic and financial situation. This interpretation reflects his political and economic analysis.