readiness to assist the West African nation with a new aid program. Authorities in heavily indebted Senegal have made “important progress” in addressing previous misrepresentations of budget deficits, Managing Director Kristalina Georgieva said in a statement. She also commended the government for its “commitment to transparency, the actions taken to identify public debt liabilities, and its close collaboration with Fund staff on these issues.”

The IMF suspended its USD 1.8 billion credit line to Senegal a year ago following revelations of distorted figures and fiscal mismanagement. The suspension came shortly after the Senegalese government disclosed that economic data had been misreported under former President Macky Sall.

An IMF team that visited Senegal in March later confirmed that officials had made false statements regarding budget deficits and public debt for the period 2019–2023.

Welcoming Senegal’s official request for a new IMF-supported program, Georgieva said the situation was “in a good position to move expeditiously forward on all fronts.”

Formal negotiations on the new IMF program for Senegal are expected to begin in mid-October during the IMF–World Bank Annual Meetings, she added.  (Bssnews)