Event
Senegal’s fiscal stability and debt sustainability came under severe pressure following the publication of the Court of Auditors’ report on 12 February. The report confirmed the former government underreported fiscal deficits and government debt during the period from 2019 to 2023. It also revealed Senegal has very restricted fiscal space and high financing needs. In 2023, central government debt would have been at 99.7% of GDP instead of 81% of GDP (as published by the IMF WEO in October 2024) and the fiscal deficit would have been at 12.3% of GDP instead of 4.9% of GDP. As a reaction to this situation, the IMF has suspended its active Extended Credit Facility programme (June 2023–June…
