Press Release No. 16/414

Statement by Mr. Furusawa at the Conclusion of a Visit to Senegal

September 21, 2016

• Regional conference co-hosted by the IMF calls for greater financial integration in West Africa.
• IMF Deputy Managing Director commends Senegalese authorities on their strong economic performance.

Mr. Mitsuhiro Furusawa, Deputy Managing Director of the International Monetary Fund made the following statement today at the conclusion of a visit to Senegal:

“My first visit to Senegal in my capacity of Deputy Managing Director of the IMF has been extremely fruitful. I wish to thank Prime Minister Dione and the Senegalese authorities for our constructive discussions. I commended the government on its economic performance, with a growth rate expected to reach 6 percent in 2016 from 4.3 in 2014. With external demand and financing conditions significantly worsening, and a much less favorable outlook for SSA, identifying untapped and underutilized sources of growth has become even more urgent. I encouraged the authorities to seize this moment to continue to create budget space and invest in human capital.

“I also underscored the excellent relation between Senegal and the IMF and reiterated our willingness to continue to support the country in its development efforts.

“I also had the honor to address the conference on financial integration in West Africa jointly organized by the Central Bank of West African States (BCEAO) and the IMF. I wish to thank Governor Kone for his close cooperation in organizing this conference—one of several the IMF has helped organize on financial inclusion over the past few years here in Africa and in other regions. In my meeting with the Governor, we explored ways in which the IMF can continue to assist in promoting financial inclusion in West Africa to support growth.

“During the conference, I stressed the importance of improving access to basic financial services in West Africa. The IMF is of the view that developing a diversified and inclusive financial sector is key for promoting strong and stable economic growth in West Africa.

“I also met with representatives of the private sector, youth groups, and civil society organizations.

“I would like to sincerely thank again the Government and the people of Senegal for their warm welcome and hospitality. The IMF remains Senegal’s partner in meeting its development challenges”.