Senegal: First Review Under the Policy Coordination Instrument and Request for Modification of Quantitative Targets-Press Release; Staff Report; and Statement by the Executive Director for Senegal

July 24, 2020

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Summary

The Covid-19 pandemic has ended a period of buoyant growth averaging about 6 ½ percent over the last 6 years. Containment measures, lower external demand, reduced remittances, and the sudden stop of travel and tourism are taking a significant toll on the economy. Without forceful policy measures, the current crisis could unravel development gains over the last decade. The authorities have taken strong actions to contain the pandemic and mitigate its economic fallout, supported by significant additional external financing from Senegal’s development partners. The IMF disbursed US$442 million (100 percent of quota) under the RFI/RCF in April.

Subject: Budget planning and preparation, COVID-19, Debt service, External debt, Financial institutions, Health, Loans, Public debt, Public financial management (PFM)

Keywords: authority, Budget planning and preparation, COVID-19, CR, Debt service, debt service Suspension Initiative, development partner, Global, government contract, ISCR, Loans, petroleum company, private sector, providing government guarantee, reform strategy, Senegal, West Africa

Pages:
71
Volume:
2020
DOI:
https://doi.org/10.5089/9781513551234.002
Issue:
225
Series:
Country Report No. 2020/225
Stock No:
1SENEA2020003
ISBN:
9781513551234
ISSN:
1934-7685

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