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International Monetary Fund. African Dept.

Sixth Review Under the Policy Support Instrument-Press Release; Staff Report; and Statement by the Executive Director for Senegal

Ms. Louise Fox, Mr. Alun H. Thomas, and Cleary Haines
This paper provides the most complete analysis of the structural transformation among low- and low-middle-income countries in sub-Saharan Africa to date.
International Monetary Fund. African Dept.
This Selected Issues paper offers policy recommendations for Senegal to reach high and sustained growth with the goal of exiting low-income country status. For Senegal to reach Plan Sénégal Emergent (PSE) objectives, reforms under the PSE need to create space for small and medium-sized enterprises and foreign direct investment to thrive. Reform of Senegal’s business environment needs to be accelerated. Macrostructural reforms should be stepped up in the energy sector, in which Senegal still ranks 170th in the world. Progress in the electricity sector can be achieved by continuing to improve reliability of supply and reduce electricity costs. Reform of the taxation system, by simplifying procedures and optimizing the tax rates, is another macro-critical area in which Senegal needs to make significant strides.
International Monetary Fund. African Dept.

This paper discusses Senegal's First Review Under the Policy Support Instrument (PSI) and Request for Modification of Assessment Criteria. Program performance through September was broadly satisfactory. All end-June assessment criteria were met but the end-June indicative target on tax revenue was missed because of a shortfall in customs revenue. Continued rationalization and better control of public expenditure helped meet the fiscal deficit target despite the shortfall in revenue. All structural benchmarks were met. In line with the IMF's new debt limits policy, the authorities request the removal of the nonconcessional external debt assessment criteria. The IMF staff supports the authorities' request for the completion of the first PSI review.

International Monetary Fund. African Dept.

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.