This Report on the Observance of Standards and Codes data module provides a review of Senegal’s data dissemination practices against the IMF’s General Data Dissemination System, complemented by an in-depth assessment of the quality of the national accounts, consumer price index, government finance, monetary balance of payments, and income poverty statistics. The assessment reveals that Senegal generally follows the recommendations of this system for the coverage, periodicity, and timeliness of all data categories. Overall, the institutional environment of the data-producing agencies supports statistical quality.
The price level behaviors of the CFA franc zone countries with respect to the price level of France, defined in terms of long-run convergence in price level and short-run linear dependence of their inflation rates are not homogenous and have a break-point in the mid 1980s except for Congo. This paper quantifies the evolution of the price level behavior of each CFA franc zone country from 1979 to 1993 using the cointegration and error-correction model techniques. The interzone linkages are also examined using the simple vector autoregression model.
Mrs. Kerstin Gerling and Carlos Fernandez Valdovinos
Using a consistent dataset and methodology for all eight member countries of the West African Economic and Monetary Union (WAEMU) from 1994 to 2009, this paper provides evidence of the two major channels for real effects of inflation: inflation uncertainty and relative price variability. In line with theory and most evidence for advanced and emerging market economies, higher inflation increases inflation uncertainty and relative price variability in all WAEMU countries. However, the pattern, magnitude and timing of these two channels vary considerably by country. The findings raise several policy issues for future research.
This paper examines Senegal’s 2002 Article IV Consultation and Requests for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) and for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries. Overall, economic developments in 2002 were mixed. Real GDP growth decelerated to 2.4 percent in 2002 on account of a sharp weather-related drop in agricultural output. The IMF staff supports the government’s reform strategies in the electricity and groundnut sectors, as well as the ongoing reforms in the postal, and public and private pension systems.
This paper presents key findings of the Third Review under the Policy Support Instrument (PSI) for Senegal. The budgetary slippages, which had seriously affected the economy and put Senegal’s PSI-supported program at risk, have been successfully addressed. In line with program commitments, the government’s unpaid bills have been substantially reduced and far-reaching public financial management reforms launched. A temporary fiscal easing relative to earlier program targets is envisaged for 2009 to help counter the impact of the external shock.