Senegal: Staff Report for the 2018 Article IV Consultation and Seventh Review Under the Policy Support Instrument and Request for Modification of Assessment Criteria--Debt Sustainability Analysis-Press Release; Staff Report; and Statement by the Executive Director for Senegal
IMF Staff Country Reports, January 28, 2019
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- Senegal: Staff Report for the 2018 Article IV Consultation and Seventh Review Under the Policy Support Instrument and Request for Modification of Assessment Criteria--Debt Sustainability Analysis-Press Release; Staff Report; and Statement by the Executive Director for Senegal
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Bibliographic details
- Published: January 28, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484396254.002
Overview and Main Challenge
- Main challenge: sustaining high GDP growth rates while maintaining fiscal sustainability and improving the business environment to create jobs for the fast-growing population.
- The second phase of the Plan Sénégal Emergent (PSE) covering 2019-23 sets out a comprehensive reform agenda to achieve these objectives.
Fiscal Policy and Public Financial Management (PFM)
- Fiscal reforms should aim to:
- increase revenues;
- strengthen public financial management (PFM);
- improve the composition and quality of spending.
- Development of a fiscal framework for oil and gas aligned with international best practice is recommended to ensure that these natural resources provide high economic and social returns.
Structural Reforms and Private Sector Development
- Structural reforms to facilitate private investment and competitiveness would provide durable sources of growth.
- Further progress on improving the business environment will require:
- simplifying tax administration;
- reforms to facilitate SME access to finance;
- further development of the Special Economic Zones (SEZs).
Social and Distributional Policies
- Policies to address gender and inequality issues would contribute to poverty reduction and well-distributed growth.
- Keywords emphasizing social and labor aspects include: women labor market participation.
Subject Areas and Keywords
- Subject: Credit, External debt, Government debt management, Money, Public debt, Public financial management (PFM)
- Keywords: convergence criterion, CR, Credit, debt, deficit, FAD expert, Global, Government debt management, ISCR, PSI objective, revenue projection, Senegal, West Africa, women labor market participation
Content in this bundle
- Country Report