WASHINGTON, Sept 16 – Senegal and the International Monetary Fund have agreed to accelerate discussions toward a new Fund-supported programme as Dakar seeks to strengthen its economy and restore fiscal sustainability.
Senegalese President Bassirou Diomaye Faye met IMF Managing Director Kristalina Georgieva at the Fund’s headquarters in Washington on Tuesday, with discussions focused on the country’s economic policy priorities and recovery plans.
Following the meeting, Georgieva described the relationship between Senegal and the IMF as a “strong partnership” and said both sides were working “expeditiously toward a new Fund-supported program.”
The IMF chief said Senegal had made progress in strengthening its economy and improving the outlook for investment, employment and economic growth.
“Senegal has made encouraging progress in strengthening the economy and improving the outlook for investments, jobs and growth,” Georgieva said in a separate statement.
Debt Treatment Remains Central
The discussions come as Senegal prepares to pursue debt treatment as part of its broader effort to restore fiscal stability.
Georgieva welcomed the Senegalese authorities’ intention to seek debt treatment and said the government was determined to restore fiscal sustainability quickly.
The new programme is expected to provide a framework for supporting Senegal’s economic recovery while the government addresses its fiscal pressures and works toward a more sustainable debt position.
The talks also represent an important step following the disruption of Senegal’s previous IMF programme, as the government seeks to establish a new relationship with the Fund around its economic reform agenda.
Faye’s engagement with the IMF leadership in Washington comes alongside Senegal’s broader diplomatic and financial discussions with international institutions and creditors as Dakar works to secure a new framework for economic support.
The latest statements from both sides indicate that negotiations are moving forward, although the details and terms of a new Fund-supported programme have yet to be finalized.
