Nicholas Stern, Mr. Mark W. Plant, Agustín Carstens, and Ibrahim Dabdoub
The program of seminars—open to nonofficial visitors as well as officials of governments and international organizations—held September 20–22 in Dubai covered a range of issues of concern to the international community. Among the topics were the implications of the collapsed trade talks in Cancún, foreign direct investment in emerging markets, prospects for achieving the Millennium Development Goals, the role of the IMF in low-income countries (see box, page 305), and the role of official communication in the success of economic and financial policies (see box, page 306). (For seminars that focused on the Middle East, see IMF Survey, October 6, pages 284—86, and boxes below and on page 307.)
This paper focuses on Senegal’s Third and Fourth Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and Request for Waiver of Performance Criteria. Program implementation in 2005 was uneven. Most performance criteria (PCs) for the third and fourth reviews were met, except for the continuous PCs on the arrears of, and budgetary transfers to, the state electricity company, and the ceiling on no-bid public contracts. On the basis of the corrective actions taken and planned, the authorities requested waivers for the missed PCs.