An extended credit facility (ECF) of $1.526bn (SDR 1.132 billion and 350% of quota) combined with the resilience and sustainability facility (RSF) of $327.1m (SDR 242.7 million and 75% of quota), will help boost the Senegalese economy in the run-up to presidential elections in nine months.
But to benefit from this aid, which is to be spread out over 36 months, the IMF expects the Senegalese government to engage in reforms to reduce debt vulnerabilities through fiscal consolidation, strengthening governance and the framework for combating money laundering and the financing of terrorism, and achieving more inclusive and job-rich growth as outlined in the Fund’s report on 11 May.
Senegal’s debt is close to 70% of the national GDP. During a meeting in Dakar between the head of the IMF mission, Edward Gemayel, and the minister of finance and budget, Mamadou Moustapha Ba, the Senegalese
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