Senegal-IMF: Mission Concludes, Talks on New Agreement Continue

The International Monetary Fund (IMF) mission to Senegal, led by Mercedes Vera Martin, concluded on 1 September after two weeks of discussions in Dakar. The talks, which began on 19 August, focused in particular on the state of public finances, government debt, financing needs and the country’s fiscal trajectory.

Senegalese authorities and the IMF also discussed economic and financial reforms that could accompany the conclusion of a new financing agreement.

Revenue, spending and debt at the heart of the issues

Against a backdrop of budgetary constraints, the discussions brought several matters to the fore: increasing domestic revenue, controlling public spending, debt management and subsidy reform, particularly in the energy sector.

These issues are linked to the stated goal of strengthening public finance management and restoring the confidence of financial partners.

Further details expected on next steps

The Minister of Economy, Finance and Planning, Cheikh Diba, was expected to present the mission’s findings, any areas of convergence with the IMF and the next steps towards a financial arrangement. The IMF was also expected to communicate its conclusions, with remarks announced by its mission chief for Senegal.