{
  "title": "Senegal: 2021 Article IV Consultation, Fourth Review Under the Policy Coordination Instrument, First Reviews Under the Stand-By Arrangement and the Arrangement Under the Standby Credit Facility, and Request for Modification of Performance Criteria and Quantitative Targets",
  "publication": "IMF Staff Country Reports, January 14, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/01/14/senegal-2021-article-iv-consultation-fourth-review-under-the-policy-coordination-instrument-511932",
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  "summary": "The COVID-19 pandemic interrupted a decade of high growth and development progress in Senegal. While a recession was avoided in 2020, the pandemic caused severe hardship and most households experienced income and job losses.",
  "sections": [
    {
      "heading": "Key findings and summary",
      "content": "- The COVID-19 pandemic interrupted a decade of high growth and development progress in Senegal.\n- A recession was avoided in 2020, but the pandemic caused severe hardship and most households experienced income and job losses.\n- A dynamic recovery is underway since mid-2020, supported by expansionary fiscal policy.\n- Higher fiscal deficits and lower growth have resulted in a rapid increase of the debt-to-GDP ratio and fiscal space is narrowing.\n- COVID-19 case numbers remain comparatively low and about 14 percent of the adult population is vaccinated.\n- Recent pandemic waves had little impact on economic activity in the absence of new lockdowns or movement restrictions."
    },
    {
      "heading": "Macroeconomic outlook and recovery",
      "content": "- Recovery dynamics: dynamic recovery since mid-2020 driven by expansionary fiscal policy.\n- Labor and incomes: most households experienced income and job losses during the pandemic.\n- Growth vs. deficits: lower growth combined with higher fiscal deficits have pressured public finances and reduced fiscal space."
    },
    {
      "heading": "Fiscal position and public debt",
      "content": "- Fiscal policy: expansionary measures supported the recovery but contributed to higher fiscal deficits.\n- Debt developments: rapid increase of the debt-to-GDP ratio is highlighted as a key risk and fiscal space is narrowing."
    },
    {
      "heading": "COVID-19 epidemiological and vaccination context",
      "content": "- Case numbers: described as comparatively low.\n- Vaccination: about 14 percent of the adult population is vaccinated.\n- Impact of waves: recent pandemic waves had little impact on economic activity provided there were no new lockdowns or movement restrictions.\n\n---\n\n Content in this bundle\n\n- 1senea2022001\n  - 1senea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1senea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 14, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781616358891.002",
    "The COVID-19 pandemic interrupted a decade of high growth and development progress in Senegal.",
    "A recession was avoided in 2020, but the pandemic caused severe hardship and most households experienced income and job losses.",
    "A dynamic recovery is underway since mid-2020, supported by expansionary fiscal policy.",
    "Higher fiscal deficits and lower growth have resulted in a rapid increase of the debt-to-GDP ratio and fiscal space is narrowing.",
    "COVID-19 case numbers remain comparatively low and about 14 percent of the adult population is vaccinated.",
    "Recent pandemic waves had little impact on economic activity in the absence of new lockdowns or movement restrictions.",
    "Recovery dynamics: dynamic recovery since mid-2020 driven by expansionary fiscal policy.",
    "Labor and incomes: most households experienced income and job losses during the pandemic.",
    "Growth vs. deficits: lower growth combined with higher fiscal deficits have pressured public finances and reduced fiscal space.",
    "Fiscal policy: expansionary measures supported the recovery but contributed to higher fiscal deficits.",
    "Debt developments: rapid increase of the debt-to-GDP ratio is highlighted as a key risk and fiscal space is narrowing.",
    "Case numbers: described as comparatively low.",
    "Vaccination: about 14 percent of the adult population is vaccinated.",
    "Impact of waves: recent pandemic waves had little impact on economic activity provided there were no new lockdowns or movement restrictions.",
    "**1senea2022001**"
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