Dakar, July 17 (APS) – The board of directors of the International Monetary Fund (IMF) approved the Economic and Financial Program of Senegal supported by the Economic Policy Coordination Instrument (ICPE), we learned on Friday to the Senegalese Ministry of Finance.
A team of IMF staff, led by Corinne Deléchat, held a virtual mission from June 2 to 12, 2020 to conduct interviews as part of the first review of the agreement with the IMF under the Coordination Coordination Instrument. economic policy (ICPE) approved in January 2020.
This team had ” reached an agreement with the authorities regarding economic and financial measures that could favor the approval of the first review of their program over three years under the Economic Policy Coordination Instrument (ICPE) ) ”.
A review of this first review by the IMF’s Executive Board was expected in the second half of July.
Senegal’s budget deficit is expected to reach 6.1% of GDP in 2020, says the International Monetary Fund (IMF).
“Taking full account of the impact of the pandemic on revenue collection and the need for additional spending brings the projected budget deficit to 6.1% of GDP in 2020,” announced Corinne Deléchat, a manager of the Fonds .
To mitigate the effects of the Covid-19 crisis, the government has set up an economic and social resilience program to strengthen the health system and support households, the Senegalese diaspora, as well as businesses and their employees.
In April 2020, the IMF disbursed US $ 442 million (100% of Senegal’s quota), or around CFAF 263 billion or 2% of GDP, under the rapid financing instrument (IFR) and the fast credit facility (FCR), thus providing immediate support in terms of liquidity in order to support the State in the context of the implementation of its response plan.
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