IMF staff to visit Senegal for more programme talks

IMF staff to visit Senegal for more programme talks

Enlarge

Aug 17 (Reuters) – The International Monetary Fund said on Monday that its staff would visit the West African country from August 19 to September 1 to continue discussions on policies and reforms that could be supported by a new lending arrangement.

The last time the Washington-based lender’s staff visited the West African nation was in June, when it said there were “open and constructive technical discussions” on Senegal’s request for a new programme.

Senegal and the IMF have been working to resolve a debt misreporting issue since the country’s then-newly elected leaders disclosed the problem in 2024.

The fund froze its previous $1.8 billion lending programme after the larger debt pile came to light. Senegal has been largely shut out of international capital markets since, leaving it reliant on regional ​borrowing.

“The IMF remains firmly committed to helping Senegal safeguard macroeconomic stability and foster sustainable and inclusive growth,” the Fund’s statement said on Monday.

(Reporting by Nilutpal Timsina; Additional reporting by Ruchika Khanna;Editing by Alexander Winning)