This paper examines the completion point document for Senegal’s Enhanced Initiative for Heavily Indebted Poor Countries. Senegal could reach the completion point on the basis of a full poverty reduction strategy and sound macroeconomic policies, as well as specific structural and social reforms set out in the decision point document. Major reforms have been advancing in the energy and groundnut sectors and in the postal and pension systems, and institutional improvements in public financial management toward better controls and transparency have been made and are continuing.
International Monetary Fund. External Relations Dept.
IMF Managing Director Horst Köhler has recommended for Executive Board approval a transitional program for Argentina. The IMF said that while providing no net new financing, the arrangement would provide financial support and an extension of payment expectations to the IMF through August 2003. The Executive Board is expected to review the transitional program in the coming days.
In Senegal, average annual real GDP growth has been more than 5 percent since 1995, with inflation well below 3 percent. Senegal’s economic performance has been broadly satisfactory in 2000 and during the first quarter of 2001. Yet, despite this economic performance, poverty is still prevalent. According to the household survey of 1995 Enquête Sénégalaise Auprès des Ménages (ESAM), 65 percent of the population is below the poverty line. The human development index of the United Nations Development Program (UNDP) ranks Senegal 154th out of 174 countries.