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IMF Welcomes Senegal's Commitment to Transparency on Data Discrepancies
5 Articles
5 Articles
IMF welcomes Senegal's commitment to transparency on data discrepancies
The International Monetary Fund is working closely with Senegal's authorities to design corrective measures and actions after misreporting on debt and fiscal deficits, IMF spokesperson Julie Kozack said on Thursday.
Senegal's economic situation is a cause for serious concern. According to a report recently published by the British bank Barclays, the country's public debt is now estimated at 119 per cent of GDP in 2024, well above the 99.7 per cent reported by the Court of Auditors for the year 2023. This re-evaluation places Senegal at the top of the most indebted countries on the African continent, joining Zambia and Cape Verde as the only countries on the…
Senegal Promises To Clear Undeclared Debt Incurred By Past Administration
By Enyichukwu Enemanna Senegal’s Prime Minister says his country is ready to present to International Monetary Fund (IMF) a recovery plan that would assist in cleaning up billions of dollars in debts which were not disclosed by the previous administration of Macky Sall. The IMF, which says it remains engaged with the West African country grappling with a high debt profile is its key financier. The US-based lender had frozen disbursements on its …
After an audit of the Court of Auditors in February revealed higher levels of debt and public deficit than announced, weakening the financing options of the Senegalese economy, Barclays Bank believes that the country has become Africa's most indebted. An amending finance law, which undermines expenditure and revises revenue over the next few years, augurs for austerity that does not say its name.
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