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Senegal and the International Monetary Fund (IMF) say they have made progress in discussions on a new loan programme, with positive developments expected at the end of the Fund’s ongoing mission.
The IMF mission, which began on August 19, is discussing a replacement for the $1.8 billion programme suspended in 2024 after President Bassirou Diomaye Faye’s government disclosed previously unreported debt.
An IMF spokesperson said discussions with Senegalese authorities had been constructive and substantial progress had been made.
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“Discussions with the authorities continue in a constructive way,” the spokesperson said, adding that any staff-level agreement would be announced through the Fund’s established processes.
To secure a new programme, Senegal must address the fallout from the undisclosed debt, agree on a credible plan to stabilise its finances and determine how to manage its debt burden.
Senegal last received IMF financing in late 2023 and has since relied on regional markets and retail bond sales to bridge the funding gap.
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