International Monetary Fund logo. Photo: IMF
The International Monetary Fund announced an agreement with Senegal on Tuesday for a new $2.2-billion loan programme, after a prior deal was suspended following the discovery of previously unreported debt.
The announcement comes nearly two years after Senegal’s current government, which rose to power on an opposition electoral victory, accused the former administration of ex-president Macky Sall (2012-2024) of having concealed the true extent of the west African country’s worrisome budgetary situation.
As a result, the IMF suspended a $1.8-billion aid programme it had agreed upon in 2023, pending further information and commitments from new President Bassirou Diomaye Faye’s government.
The new 36-month arrangement announced Tuesday is meant to support Senegal’s “economic and financial reform program for the 2026–2029 period”.
