Senegal: Staff Report for the 2001 Article IV Consultation, First Review Under the Third Annual Arrangement Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria
October 24, 2001
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Faced with a tight liquidity situation at the treasury, the government of Senegal has implemented a tight spending regime to avoid a substantial drawing on the statutory advances at the Central Bank of West African States (BCEAO). Weaknesses in accounting for public funds, as well as the delays in structural reforms, have had fiscal repercussions. Credit growth has reflected the financing needs of the agricultural sector and the buildup of arrears in the energy sector. Recent developments have exacerbated the risk concentration problem in the loan portfolio of the local banking system.
Subject: Agricultural commodities, Bank credit, Banking, Commodities, Credit, Expenditure, Fiscal policy, Fiscal stance, Money
Keywords: Agricultural commodities, audit report, Bank credit, CR, Credit, financial situation, Fiscal stance, groundnut company, ISCR, PRGF arrangement, sound PRSP, Sub-Saharan Africa, West Africa
Pages:
85
Volume:
2001
DOI:
Issue:
186
Series:
Country Report No. 2001/186
Stock No:
1SENEA0012001
ISBN:
9781451833867
ISSN:
1934-7685
