The International Monetary Fund has reached an agreement with Senegal on a new $2.2 billion debt programme, after a prior deal was suspended following discovery of previously unreported debt.
In 2024, Senegal's current government, formed after an opposition electoral victory, accused the former administration of ex-president Macky Sall (2012-2024) of having concealed the true extent of the west African country's worrisome budgetary situation.
As a result, the IMF suspended a $1.8 billion aid programme it had agreed upon in 2023, pending further information and commitments from Senegal's new authorities.
The IMF said the 2023 budget deficit was 12.3 percent of GDP, when the last government said it was 4.9 percent.
After several IMF visits to Senegal to examine the country's financial situation, the IMF and the government began negotiations in mid-October for a new aid programme.
With a total public sector debt estimated at 132 percent of GDP at the end of 2024, according to the International Monetary Fund (IMF), Senegal is one of the most indebted countries in sub-Saharan Africa.
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