IMF Team Visits Senegal to Negotiate New Lending Arrangement

An International Monetary Fund staff team, led by Mission Chief Mercedes Vera Martin, will visit Dakar from August 19 to September 1. The two-week mission aims to establish a shared understanding of the policies and reforms required for a new lending arrangement to ensure macroeconomic stability and inclusive growth.

This visit follows a period of instability caused by a 2024 disclosure from Senegalese leaders revealing a significantly larger debt pile than previously reported. This debt misreporting led to a freeze in the IMF's program. Recent progress in resolving the issue has paved the way for the current discussions.

In preparation for the IMF mission, Senegal's minister-delegate for budget traveled to China, the country's largest bilateral creditor. The IMF team plans to engage with various stakeholders during their stay in Dakar to finalize the terms of the new financial support.