Senegal: Second Review Under the Policy Coordination Instrument and Request for Modification of Quantitative Targets-Press Release; and Staff Report

January 19, 2021

Preview Citation

Format: Chicago

Senegal: Second Review Under the Policy Coordination Instrument and Request for Modification of Quantitative Targets-Press Release; and Staff Report, (USA: International Monetary Fund, 2021) accessed November 23, 2024

Also available in: français

Summary

Although the pandemic has remained fairly contained in Senegal, its economic impact has been severe. Strong fiscal and monetary policy support has helped bolster the health system and cushion the economic shock, with additional fiscal spending exceeding 3 percent of GDP. The IMF disbursed US$442 million (100 percent of quota) under the RFI/RCF in April to support the crisis response. An ambitious 2021–23 economic recovery plan aims to build a more resilient economy and support inclusive and private sector-led growth. WAEMU Finance Ministers agreed to return to the 3 percent of GDP fiscal deficit anchor more gradually (by 2023) owing to the pandemic’s impact and the security challenges in the Sahel.

Subject: Budget planning and preparation, COVID-19, Debt relief, Debt sustainability analysis, Public debt

Keywords: Budget execution transparency, CR, Development objective, GDP deflator, Hydrocarbon GDP, ISCR, Monetary policy support, Senegal authorities, Strong fiscal policy

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/018
Stock No:

1SENEA2021001
ISBN:

9781513567020
ISSN:

1934-7685

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