Senegal: First Reviews Under the Extended Fund Facility, the Extended Credit Facility, and the Resilience and Sustainability Facility Arrangements, Requests for Modification of the Quantitative Performance Criteria and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Senegal
IMF Staff Country Reports, December 19, 2023
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- Senegal: First Reviews Under the Extended Fund Facility, the Extended Credit Facility, and the Resilience and Sustainability Facility Arrangements, Requests for Modification of the Quantitative Performance Criteria and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Senegal
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Bibliographic details
- Published: December 19, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400263330.002
Overview and purpose
- Presents Senegal’s First Reviews under the Extended Fund Facility, The Extended Credit Facility, and the Resilience and Sustainability Facility (RSF) Arrangements.
- Includes Requests for Modification of the Quantitative Performance Criteria and Rephasing of Access.
- Publication date: December 19, 2023.
Macroeconomic outlook and near-term developments
- The Senegalese economy continues to face headwinds as it recovers from the coronavirus disease 2019 pandemic.
- Some of the downside risks identified at the time of the program request are materializing, leading to a downward revision of growth and higher inflation projected for 2023/24.
- Near-term risks remain tilted to the downside.
- Medium-term prospects remain favorable with appropriate policies and the start of hydrocarbon production.
Structural reforms and program implementation
- Significant progress has been achieved in implementing structural reforms.
- The authorities are implementing the structural reforms agreed under the program, including:
- steps to strengthen revenue administration and public financial management,
- measures to enhance governance,
- improvements to the anti-corruption frameworks.
- Reforms agreed under the RSF are being implemented steadily.
Subject coverage and keywords
- Subject: Budget planning and preparation, Climate change, Climate finance, Environment, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration
- Keywords: Budget planning and preparation, Climate change, Climate finance, Global, government infrastructure loan, Middle East, Policy discussion, Resilience and Sustainability Facility arrangement, RSF arrangement, RSF reform area, Senegalese authorities, unfaltering commitment, West Africa
Content in this bundle
- 1senea2023003