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The IMF is considering launching a new financing package for Senegal after overcoming the debt crisis

The Executive Director of the International Monetary Fund, Kristalina Georgieva, announced that the Fund will send a team to Senegal to begin discussions on a new loan program with the Senegalese government, according to Bloomberg.

 

Georgieva said that the Fund’s decision came after settling a problem that was related to the Senegalese government’s inaccurate disclosure of debts, which had hindered Negotiations in the past.

During a press conference held by Georgieva on the sidelines of the annual meetings of the Monetary Fund and the World Bank in Washington, she explained that she had held “very constructive” meetings. With the Senegalese authorities.

She added that the bank held a fruitful discussion about what the objectives of the program could be and how to implement it, noting that the mission will be sent immediately after the end of the annual meetings.

This move comes at a time when Senegal seeks to strengthen its financial stability and restore the confidence of international markets, after a period of economic updates linked to debt and inflationary pressures that the region is witnessing. West Africa.

The IMF announced – last July – its intention to send a mission to Senegal to address the problem of hidden debts and begin talks on the features of a new loan program. 

It is noteworthy that Senegal suffers from debts estimated at billions of dollars; Which prompted the International Monetary Fund to freeze its loan program.

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