DAKAR (Reuters) – The Worldwide Financial Fund on Wednesday stated a employees workforce had visited Senegal to begin assessing the implications of information revisions ensuing from a authorities audit of previous and present IMF-supported applications.
Whereas the certification of the federal government’s findings is pending, IMF employees will proceed to work intently with the authorities within the coming weeks to guage the macroeconomic influence and description the following steps, the Fund stated in a press release.
An audit of Senegal’s funds ordered by newly elected President Bassirou Diomaye Faye, confirmed final month that the deficit on the finish of 2023 stood at over 10% of GDP, in contrast with round 5% the earlier authorities had reported.
In consequence, the federal government stated it had determined to not go forward with Senegal’s request for an IMF disbursement in July following the Fund’s assessment in June.
The West African nation has since been in dialogue with the IMF to take corrective measures.
An IMF employees workforce carried out a mission to Senegal from Oct. 9 to Oct. 16 to debate the audit’s preliminary findings.
Subsequent steps “will embrace assessing whether or not any misreporting occurred throughout earlier and present IMF-supported applications”, the assertion stated.
