Senegal: Second Review Under the Policy Coordination Instrument and Request for Modification of Quantitative Targets-Press Release; and Staff Report
IMF Staff Country Reports, January 19, 2021
Source details
- Canonical URL
- Senegal: Second Review Under the Policy Coordination Instrument and Request for Modification of Quantitative Targets-Press Release; and Staff Report
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Bibliographic details
- Published: January 19, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513567020.002
Economic impact and policy response
- Although the pandemic has remained fairly contained in Senegal, its economic impact has been severe.
- Strong fiscal and monetary policy support helped bolster the health system and cushion the economic shock.
- Additional fiscal spending exceeded 3 percent of GDP.
IMF financing and support
- The IMF disbursed US$442 million (100 percent of quota) under the RFI/RCF in April to support the crisis response.
Recovery plan and fiscal framework
- An ambitious 2021–23 economic recovery plan aims to build a more resilient economy and support inclusive and private sector-led growth.
- WAEMU Finance Ministers agreed to return to the 3 percent of GDP fiscal deficit anchor more gradually (by 2023) owing to the pandemic’s impact and the security challenges in the Sahel.
Subjects, keywords, and analytical focus
- Subject areas: Budget planning and preparation; COVID-19; Debt relief; Debt sustainability analysis; Public debt.
- Keywords highlighted in the report: budget execution transparency, CR, development objective, GDP deflator, hydrocarbon GDP, ISCR, monetary policy support, Senegal authorities, strong fiscal policy.
Publication and document specifics
- Pages: 82
- Volume: 2021
- Issue: 018
- Series: Country Report No. 2021/018
- DOI: https://doi.org/10.5089/9781513567020.002
- Stock No: 1SENEA2021001
- ISBN: 9781513567020
- ISSN: 1934-7685
- Publication date on landing page: January 19, 2021
International Monetary Fund. African Dept. "Senegal: Second Review Under the Policy Coordination Instrument and Request for Modification of Quantitative Targets-Press Release; and Staff Report", IMF Staff Country Reports 2021, 018 (2021).
Content in this bundle
- 1senea2021001