Abstract
Program implementation has been satisfactory, and all assessment criteria were met. The fiscal deficit was reduced to 5.9 percent of GDP despite a significant revenue shortfall. Delays were incurred in the implementation of reforms in the energy sector. The authorities intend to accelerate reforms to improve the business environment by streamlining expenditure and by improving the efficiency of the state to reduce the fiscal deficit to below 4 percent of GDP by 2015. This will restore fiscal buffers and ensure long-term debt sustainability.
Relations with the Fund
(As of March 31, 2013)
Membership Status: Joined: August 31, 1962; Article VIII
General Resources Account:
| SDR Million | %Quota | |
|---|---|---|
| Quota | 161.80 | 100.00 |
| Fund holdings of currency (Exchange Rate) | 159.93 | 98.85 |
| Reserve Tranche Position | 1.88 | 1.16 |
| SDR Million | %Quota | |
|---|---|---|
| Quota | 161.80 | 100.00 |
| Fund holdings of currency (Exchange Rate) | 159.93 | 98.85 |
| Reserve Tranche Position | 1.88 | 1.16 |
SDR Department:
| SDR Million | %Allocation | |
|---|---|---|
| Net cumulative allocation | 154.80 | 100.00 |
| Holdings | 130.17 | 84.09 |
| SDR Million | %Allocation | |
|---|---|---|
| Net cumulative allocation | 154.80 | 100.00 |
| Holdings | 130.17 | 84.09 |
Outstanding Purchases and Loans:
| SDR Million | %Quota | |
|---|---|---|
| ESF Arrangements | 121.35 | 75.00 |
| ECF Arrangements | 9.70 | 6.00 |
| SDR Million | %Quota | |
|---|---|---|
| ESF Arrangements | 121.35 | 75.00 |
| ECF Arrangements | 9.70 | 6.00 |
Latest Financial Arrangements:
Formerly PRGF.
Projected Payments to Fund 1/
(SDR Million; based on existing use of resources and present holdings of SDRs):
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | |
| Principal | 1.73 | 11.56 | 24.15 | 25.66 | 24.27 |
| Charges/Interest 0.02 | 0.02 | 0.02 | 0.30 | 0.24 | 0.17 |
| Total | 1.75 | 11.58 | 24.45 | 25.89 | 24.44 |
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | |
| Principal | 1.73 | 11.56 | 24.15 | 25.66 | 24.27 |
| Charges/Interest 0.02 | 0.02 | 0.02 | 0.30 | 0.24 | 0.17 |
| Total | 1.75 | 11.58 | 24.45 | 25.89 | 24.44 |
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
Implementation of HIPC Initiative:
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
| Enhanced | |||||
| I. Commitment of HIPC assistance | Framework | ||||
| Decision point date | Jun 2000 | ||||
| Assistance committed | |||||
| by all creditors (US$ Million) 1/ | 488.30 | ||||
| Of which: IMF assistance (US$ million) | 42.30 | ||||
| (SDR equivalent in millions) | 33.80 | ||||
| Completion point date | Apr 2004 | ||||
| II. Disbursement of IMF assistance (SDR Million) | |||||
| Assistance disbursed to the member | 33.80 | ||||
| Interim assistance | 14.31 | ||||
| Completion point balance | 19.49 | ||||
| Additional disbursement of interest income 2/ | 4.60 | ||||
| Total disbursements | 38.40 | ||||
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
| Enhanced | |||||
| I. Commitment of HIPC assistance | Framework | ||||
| Decision point date | Jun 2000 | ||||
| Assistance committed | |||||
| by all creditors (US$ Million) 1/ | 488.30 | ||||
| Of which: IMF assistance (US$ million) | 42.30 | ||||
| (SDR equivalent in millions) | 33.80 | ||||
| Completion point date | Apr 2004 | ||||
| II. Disbursement of IMF assistance (SDR Million) | |||||
| Assistance disbursed to the member | 33.80 | ||||
| Interim assistance | 14.31 | ||||
| Completion point balance | 19.49 | ||||
| Additional disbursement of interest income 2/ | 4.60 | ||||
| Total disbursements | 38.40 | ||||
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
Implementation of Multilateral Debt Relief Initiative (MDRI):
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
| I. MDRI-eligible debt (SDR Million) 1/ | 100.32 | ||||||
| Financed by: MDRI Trust | 94.76 | ||||||
| Remaining HIPC resources | 5.56 | ||||||
| II. Debt Relief by Facility (SDR Million) | |||||||
| Eligible Debt | |||||||
| Delivery | |||||||
| Date | GRA | PRGT | Total | ||||
| January 2006 | N/A | 100.32 | 100.32 | ||||
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
| I. MDRI-eligible debt (SDR Million) 1/ | 100.32 | ||||||
| Financed by: MDRI Trust | 94.76 | ||||||
| Remaining HIPC resources | 5.56 | ||||||
| II. Debt Relief by Facility (SDR Million) | |||||||
| Eligible Debt | |||||||
| Delivery | |||||||
| Date | GRA | PRGT | Total | ||||
| January 2006 | N/A | 100.32 | 100.32 | ||||
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
Safeguards Assessments:
The Central Bank of West African States (BCEAO) is a common central bank of the countries of the West African Economic and Monetary Union (WAMU). The most recent safeguards assessment of the BCEAO was completed on March 1, 2010. The 2010 update assessment found that the BCEAO continues to have controls in place at the operational level. The overall governance framework needed nonetheless to be strengthened by the addition of an audit committee to ensure that the Board of Directors exercises appropriate oversight over the control structure, including the audit mechanisms and financial statements. Such committee was established after the completion of the assessment following the Institutional Reform of the WAMU and the BCEAO. Efforts to implement fully the International Financial Reporting Standards reporting framework should also be pursued. An update assessment was initiated in February 2013.
Exchange System:
Senegal is a member of the West African Economic and Monetary Union (WAEMU). The exchange system, common to all members of the union, is free of restrictions on the making of payments and transfers for current international transactions. The union’s common currency, the CFA franc, had been pegged to the French franc at the rate of CFAF 1 = F 0.02. Effective January 12, 1994, the CFA franc was devalued and the new parity set at CFAF 1 = F 0.01. Effective December 31, 1998, the parity was switched to the euro at a rate of CFAF 655.96 = €1.
The authorities confirmed that Senegal had not imposed measures that could give rise to exchange restrictions subject to Fund jurisdiction. They will inform the Fund, if any such measure is introduced.
Aspects of the exchange system were also discussed in the report “WAEMU: Common Policies of Member Countries” (Country Report No. 12/59 of March 12, 2012).
Article IV Consultations:
The latest Article IV consultation was completed by the Executive Board on December 10, 2012 (Country Report No. 12/337). In concluding the 2012 Article IV consultation, Executive Directors commended Senegal’s satisfactory program implementation despite the challenging internal and external environments. They stressed that although a moderate pickup in growth is expected in the near term, the economy remains exposed to substantial risks.
Directors welcomed the authorities’ continued commitment to their program to ensure macroeconomic stability, strengthen the economy’s resilience to shocks, foster higher and sustainable growth, and reduce poverty. Directors noted that, while Senegal still faces a low risk of debt distress, high fiscal deficits and rising debt ratios need to be addressed. They welcomed the authorities’ commitment to keep the deficit under 6 percent in 2012 and their determination to reduce the deficit further in the medium term to levels that are consistent with fiscal and debt sustainability. Directors also highlighted the importance of stronger debt management. They welcomed the recently finalized medium-term debt strategy, and encouraged the authorities to rely primarily on concessional financing.
Directors underscored the need to improve public financial management and government spending efficiency and transparency. They commended ongoing efforts to reduce the cost of running government, streamline public agencies, and rationalize expenditure in key sectors. Directors stressed that phasing out the costly and poorly targeted energy price subsidies while strengthening social safety nets is a priority. Sustained progress in all these areas will be necessary to meet the country’s fiscal objectives and make room for critical social and development needs.
Directors noted that the financial sector is generally robust. However, the rising level of NPLs and concentration of lending need to be closely monitored. To move Senegal to a path of higher, sustainable, and inclusive growth, Directors stressed the need to address infrastructure gaps, remove inefficiencies in government operations, and improve the business climate. They welcomed the tax and customs reforms that are underway and called for timely implementation of the new energy investments and restructuring of SENELEC, the national power utility. Directors also encouraged the authorities to deepen and strengthen the financial system to support their growth strategy.
Financial Sector Assessment Program (FSAP) and Report on the Observance of Standards and Codes (ROSC) Participation:
A joint team of the World Bank and the International Monetary Fund conducted a mission under the FSAP program in 2000 and 2001. The Financial System Stability Assessment (FSSA) was issued in 2001 (IMF Country Report No. 01/189). An FSAP update was undertaken in 2004, focusing on development issues (in particular nationwide supply of basic financial services and access of SMEs to credit), in line with the priorities defined in the PRSP (IMF Country Report No. 05/126). A regional FSAP for the WAEMU was undertaken in 2007. A ROSC on the data module was published in 2002. An FAD mission conducted a ROSC on the fiscal transparency module in 2005.
Technical Assistance (2008–12):
A. AFRITAC West
| Year | Area | Focus |
|---|---|---|
| 2008 | Debt management and financial markets National accounts Microfinance |
DSA workshop Institutional sector and quarterly national accounts Supervision and organization |
| 2009 | National accounts Tax administration Debt management Microfinance Macroeconomic and financial statistics |
Quarterly national accounts (QNA) Status of the reform and scope for further TA Strengthening public debt management Strengthening microfinance supervision Enhancing production and dissemination of public finances statistics |
| 2010 | Debt management National accounts Customs administration Tax administration Customs administration |
Strengthening public debt management Quarterly national accounts (QNA) Risk analysis and audit Tax administration modernization Follow-up mission |
| 2011 | National accounts Customs administration Public Expenditure Management Debt management Tax administration |
Quarterly national accounts (QNA) Risk analysis and audit Strengthening of PFM information systems Strengthening public debt management Establishment of medium-sized enterprise tax center |
| 2012 | Tax administration National accounts Customs administration Public Expenditure Management |
Identification and registration of tax payers Quarterly national accounts (QNA) Risk analysis and audit Public accounting system |
| 2013 | Public Expenditure Management | Central government accounting Financial regime of autonomous agencies |
| Year | Area | Focus |
|---|---|---|
| 2008 | Debt management and financial markets National accounts Microfinance |
DSA workshop Institutional sector and quarterly national accounts Supervision and organization |
| 2009 | National accounts Tax administration Debt management Microfinance Macroeconomic and financial statistics |
Quarterly national accounts (QNA) Status of the reform and scope for further TA Strengthening public debt management Strengthening microfinance supervision Enhancing production and dissemination of public finances statistics |
| 2010 | Debt management National accounts Customs administration Tax administration Customs administration |
Strengthening public debt management Quarterly national accounts (QNA) Risk analysis and audit Tax administration modernization Follow-up mission |
| 2011 | National accounts Customs administration Public Expenditure Management Debt management Tax administration |
Quarterly national accounts (QNA) Risk analysis and audit Strengthening of PFM information systems Strengthening public debt management Establishment of medium-sized enterprise tax center |
| 2012 | Tax administration National accounts Customs administration Public Expenditure Management |
Identification and registration of tax payers Quarterly national accounts (QNA) Risk analysis and audit Public accounting system |
| 2013 | Public Expenditure Management | Central government accounting Financial regime of autonomous agencies |
B. Headquarters
| Department | Date | Form | Purpose |
|---|---|---|---|
| Fiscal Affairs | Jan. 2010 | FAD Expert | Review of the expenditure chain |
| Feb. 2010 | Staff/AFRITAC | Public financial management | |
| July 2010 | FAD Expert | PFM (Treasury Single Account and cash forecasts) | |
| Oct. 2010 | Staff/Expert/AFRITAC | Revenue administration | |
| Nov. 2010 | Staff/Expert | Review of tax policy and tax expenditures | |
| Dec. 2010 | Staff | Public financial management and accounting (state, PEs, agencies) | |
| May 2011 | FAD Expert | Public financial management | |
| Sept. 2011 | Staff/Expert | Revenue administration | |
| Nov. 2011 | FAD expert | Decentralization of budget authority | |
| Dec. 2011 | FAD expert | Consolidation of accounts | |
| Jan. 2012 | FAD Experts | VAT Credit Reimbursement System, Tax Exemptions and Reform Process | |
| May & Sept. 2012, and Feb. 2013 | FAD Staff/Experts | TPA multi-Module Missions on tax reform and revenue administration | |
| March 2012 | FAD Experts | PIT and Taxation of the Banking and Telecoms Sectors | |
| July 2012 | FAD Experts | Budget Execution, Fiscal Reporting, and Cash Management | |
| January 2013 | FAD Expert | Strengthening Cash Management and Treasury Single Account | |
| Feb. 2013 | FAD Expert | Decentralization of budget authority | |
| Feb. 2013 | FAD Expert | VAT Credit Reimbursement System, Tax Exemptions and Reform Process | |
| March 2013 | FAD Experts | Wage Bill Budgeting and Execution Capital expenditure forecasting | |
| March 2013 | FAD experts | Mining and tax exemptions VAT documents and exemptions | |
| Monetary and Capital Markets | Sept. 2010 | Staff | Needs assessment |
| Jan.-Feb. 2011 | Staff/World Bank | Medium-Term Debt Strategy (MDTS) | |
|
Statistics |
Nov. 2008 | Staff | SDDS assessment |
| April 2009 | Staff | Government finance statistics | |
| Aug. 2011 | Staff | National accounts | |
| Nov. 2011 | Staff | Monetary and financial statistics | |
| Legal | Jan-Feb 2012 | Staff | Tax law |
| Department | Date | Form | Purpose |
|---|---|---|---|
| Fiscal Affairs | Jan. 2010 | FAD Expert | Review of the expenditure chain |
| Feb. 2010 | Staff/AFRITAC | Public financial management | |
| July 2010 | FAD Expert | PFM (Treasury Single Account and cash forecasts) | |
| Oct. 2010 | Staff/Expert/AFRITAC | Revenue administration | |
| Nov. 2010 | Staff/Expert | Review of tax policy and tax expenditures | |
| Dec. 2010 | Staff | Public financial management and accounting (state, PEs, agencies) | |
| May 2011 | FAD Expert | Public financial management | |
| Sept. 2011 | Staff/Expert | Revenue administration | |
| Nov. 2011 | FAD expert | Decentralization of budget authority | |
| Dec. 2011 | FAD expert | Consolidation of accounts | |
| Jan. 2012 | FAD Experts | VAT Credit Reimbursement System, Tax Exemptions and Reform Process | |
| May & Sept. 2012, and Feb. 2013 | FAD Staff/Experts | TPA multi-Module Missions on tax reform and revenue administration | |
| March 2012 | FAD Experts | PIT and Taxation of the Banking and Telecoms Sectors | |
| July 2012 | FAD Experts | Budget Execution, Fiscal Reporting, and Cash Management | |
| January 2013 | FAD Expert | Strengthening Cash Management and Treasury Single Account | |
| Feb. 2013 | FAD Expert | Decentralization of budget authority | |
| Feb. 2013 | FAD Expert | VAT Credit Reimbursement System, Tax Exemptions and Reform Process | |
| March 2013 | FAD Experts | Wage Bill Budgeting and Execution Capital expenditure forecasting | |
| March 2013 | FAD experts | Mining and tax exemptions VAT documents and exemptions | |
| Monetary and Capital Markets | Sept. 2010 | Staff | Needs assessment |
| Jan.-Feb. 2011 | Staff/World Bank | Medium-Term Debt Strategy (MDTS) | |
|
Statistics |
Nov. 2008 | Staff | SDDS assessment |
| April 2009 | Staff | Government finance statistics | |
| Aug. 2011 | Staff | National accounts | |
| Nov. 2011 | Staff | Monetary and financial statistics | |
| Legal | Jan-Feb 2012 | Staff | Tax law |
Resident Representative
Stationed in Dakar since July 24, 1984; the position has been held by Ms. Valeria Fichera since September 2009.
Anti Money Laundering/Combating the Financing of Terrorism
The onsite visit for Senegal’s AML/CFT evaluation took place in July/August 2007 in the context of ECOWAS’s Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA). The report was adopted in early May 2008 by the GIABA Plenary held in Accra, Ghana. The report highlighted several areas of weaknesses in the AML/CFT system, confirmed by a score of 12 non-compliant and 16 partially compliant ratings out of the 40+9 FATF AML/CFT recommendations. In May 2009 Senegal joined the Egmont Group of Financial Intelligence Units (FIUs). The FIU publishes on its website statistics on suspicious transaction reports received, the number of cases transmitted to the judiciary, and the number of convictions. Senegal’s Fourth Follow-Up Report was discussed at GIABA’s May 2012 Plenary. It acknowledged the progress achieved and encouraged Senegal to continue making improvements. At the same time, it was agreed that Senegal will submit its Fifth Follow-Up Report to the May 2013 Plenary.
Joint Management Action Plan Implementation World Bank and IMF Collaboration
| Title | Products | Topic | Expected delivery date |
|---|---|---|---|
| A. Mutual information on relevant work programs | |||
| World Bank | Public finance management technical assistance project | Investment project appraisal manual, evaluation of agencies, budget management information systems, internal and external audit, debt management | |
| Development policy operation | Governance, education and health reform, energy sector | November 2013 (Board) | |
| Energy sector dialogue | Senelec performance, investment planning, finances | Ongoing | |
| Mining sector TA | EITI and regulatory framework | April 2013 | |
| Social protection policy notes | Overview of programs, responses to shocks, targetting | June 2013 | |
| Poverty and gender policy notes | Trends, profile, gender, regional, employment, social sectors | June 2013 (preliminary) October 2013 (final) | |
| Statistics for Results project | Labor market, services, construction data and capacity-building | June 2013 (approval) | |
| Debt management TA | Advice on external borrowing | June 2013 | |
| Policy notes for the Consultative Group | Short policy notes on the full range of Bank activities | July 2013 | |
| IMF | IMF-supported program | ||
| Fifth PSI Review mission (March 2013) | July 2013 (Board) | ||
| Sixth PSI Review mission (September 2013) | December 2013 (Board) | ||
| Technical Assistance | |||
| Revenue administration | Six short-term expert visits | FY 2013 | |
| PFM | A resident advisor at the Treasury | Until Sept. 2013 | |
| Statistics | Data Work: SRFs Data Development | May 2013 | |
| B. Requests for work program inputs | |||
| Fund request to Bank | Analysis on poverty and inclusive growth | Analytical reports on the 2011 household survey | September 2013 |
| Bank request to Fund | Analysis on mining tax and customs reform | TA reports | June 2013 |
| C. Agreement on joint products and missions | |||
| Joint products | JSAN | National Strategy for Economic and Social Development (NSESD) | June 2013 (Board) |
| Joint DSA update | 5th PSI Review | May 2013 | |
| Consultative Group | Donor and private sector conference to attract financing for NSESD | October/November 2013 | |
| Title | Products | Topic | Expected delivery date |
|---|---|---|---|
| A. Mutual information on relevant work programs | |||
| World Bank | Public finance management technical assistance project | Investment project appraisal manual, evaluation of agencies, budget management information systems, internal and external audit, debt management | |
| Development policy operation | Governance, education and health reform, energy sector | November 2013 (Board) | |
| Energy sector dialogue | Senelec performance, investment planning, finances | Ongoing | |
| Mining sector TA | EITI and regulatory framework | April 2013 | |
| Social protection policy notes | Overview of programs, responses to shocks, targetting | June 2013 | |
| Poverty and gender policy notes | Trends, profile, gender, regional, employment, social sectors | June 2013 (preliminary) October 2013 (final) | |
| Statistics for Results project | Labor market, services, construction data and capacity-building | June 2013 (approval) | |
| Debt management TA | Advice on external borrowing | June 2013 | |
| Policy notes for the Consultative Group | Short policy notes on the full range of Bank activities | July 2013 | |
| IMF | IMF-supported program | ||
| Fifth PSI Review mission (March 2013) | July 2013 (Board) | ||
| Sixth PSI Review mission (September 2013) | December 2013 (Board) | ||
| Technical Assistance | |||
| Revenue administration | Six short-term expert visits | FY 2013 | |
| PFM | A resident advisor at the Treasury | Until Sept. 2013 | |
| Statistics | Data Work: SRFs Data Development | May 2013 | |
| B. Requests for work program inputs | |||
| Fund request to Bank | Analysis on poverty and inclusive growth | Analytical reports on the 2011 household survey | September 2013 |
| Bank request to Fund | Analysis on mining tax and customs reform | TA reports | June 2013 |
| C. Agreement on joint products and missions | |||
| Joint products | JSAN | National Strategy for Economic and Social Development (NSESD) | June 2013 (Board) |
| Joint DSA update | 5th PSI Review | May 2013 | |
| Consultative Group | Donor and private sector conference to attract financing for NSESD | October/November 2013 | |
Senegal: Table of Common Indicators Required for Surveillance
(As of May 2013)
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds
Foreign, domestic bank,, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Reflects the assessment provided in the data ROSC published in 2002 and based on the findings of the mission that took place in 2001 for the dataset corresponding to the variable in each row The assessment indicates whether international standards concerning (respectively) concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), not observed (NO), or not available (NA).
Same as footnote 8, except referring to international standards concerning (respectively) source data, statistical techniques, assessment and validation of source data, and revision studies.
Estimate.
Reported to staff during mission.
Senegal: Table of Common Indicators Required for Surveillance
(As of May 2013)
| Memo Items: | ||||||||
|---|---|---|---|---|---|---|---|---|
| Latest observation | Date received | Frequency of data 7 | Frequency of reporting 7 | Frequency of publication 7 | Data Quality – Methodological soundness 8 | Data Quality Accuracy and reliability 9 | ||
| Exchange Rates | Current | Current | D | D | D | |||
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities 1 | 12/2012 | 03/2013 | M | M | M | |||
| Reserve/Base Money | 12/2012 | 03/2013 | M | M | M | |||
| Broad Money | 12/2012 | 03/2013 | M | M | M | |||
| Central Bank Balance Sheet | 12/2012 | 03/2013 | M | M | M | LO, LO, O, O | LO, O, O, LO | |
| Consolidated Balance Sheet of the Banking System | 12/2012 | 03/2013 | M | M | M | |||
| Interest Rates 2 | 12/2012 | 03/2013 | M | M | M | |||
| Consumer Price Index | 03/2013 | 05/2013 | M | M | M | O, LO, O, O | LO, O, O, NA | |
| speeRevenue, Expenditure, Balance and Composition of Financing 3 – General Government 4 | NA | NA | ||||||
| Revenue, Expenditure, Balance and Composition of Financing 3 – Central Government | 12/2012 | 03/2013 | M | M | M | O, LNO, LO, O | LO, LO, O, LO | |
| Stocks of Central Government and Central Government-Guaranteed Debt 5/11 | 2012 | 03/2013 | ||||||
| External Current Account Balance 10/11 | 2012 | 03/2013 | A | A | A | |||
| Exports and Imports of Goods and Services 10/11 | 2012 | 03/2013 | A | A | A | O, O, O, O | O, O, O, O | |
| GDP/GNP 10/11 | 2012 | 03/2013 | A | I | A | LO, LO, LO, LNO | LNO, LNO, LNO, LNO | |
| Gross External Debt 11 | 2012 | 03/2013 | A | I | A | |||
| International Investment Position 6/ | 2012 | 03/2013 | A | A | A | |||
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds
Foreign, domestic bank,, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Reflects the assessment provided in the data ROSC published in 2002 and based on the findings of the mission that took place in 2001 for the dataset corresponding to the variable in each row The assessment indicates whether international standards concerning (respectively) concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), not observed (NO), or not available (NA).
Same as footnote 8, except referring to international standards concerning (respectively) source data, statistical techniques, assessment and validation of source data, and revision studies.
Estimate.
Reported to staff during mission.
Senegal: Table of Common Indicators Required for Surveillance
(As of May 2013)
| Memo Items: | ||||||||
|---|---|---|---|---|---|---|---|---|
| Latest observation | Date received | Frequency of data 7 | Frequency of reporting 7 | Frequency of publication 7 | Data Quality – Methodological soundness 8 | Data Quality Accuracy and reliability 9 | ||
| Exchange Rates | Current | Current | D | D | D | |||
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities 1 | 12/2012 | 03/2013 | M | M | M | |||
| Reserve/Base Money | 12/2012 | 03/2013 | M | M | M | |||
| Broad Money | 12/2012 | 03/2013 | M | M | M | |||
| Central Bank Balance Sheet | 12/2012 | 03/2013 | M | M | M | LO, LO, O, O | LO, O, O, LO | |
| Consolidated Balance Sheet of the Banking System | 12/2012 | 03/2013 | M | M | M | |||
| Interest Rates 2 | 12/2012 | 03/2013 | M | M | M | |||
| Consumer Price Index | 03/2013 | 05/2013 | M | M | M | O, LO, O, O | LO, O, O, NA | |
| speeRevenue, Expenditure, Balance and Composition of Financing 3 – General Government 4 | NA | NA | ||||||
| Revenue, Expenditure, Balance and Composition of Financing 3 – Central Government | 12/2012 | 03/2013 | M | M | M | O, LNO, LO, O | LO, LO, O, LO | |
| Stocks of Central Government and Central Government-Guaranteed Debt 5/11 | 2012 | 03/2013 | ||||||
| External Current Account Balance 10/11 | 2012 | 03/2013 | A | A | A | |||
| Exports and Imports of Goods and Services 10/11 | 2012 | 03/2013 | A | A | A | O, O, O, O | O, O, O, O | |
| GDP/GNP 10/11 | 2012 | 03/2013 | A | I | A | LO, LO, LO, LNO | LNO, LNO, LNO, LNO | |
| Gross External Debt 11 | 2012 | 03/2013 | A | I | A | |||
| International Investment Position 6/ | 2012 | 03/2013 | A | A | A | |||
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds
Foreign, domestic bank,, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Reflects the assessment provided in the data ROSC published in 2002 and based on the findings of the mission that took place in 2001 for the dataset corresponding to the variable in each row The assessment indicates whether international standards concerning (respectively) concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), not observed (NO), or not available (NA).
Same as footnote 8, except referring to international standards concerning (respectively) source data, statistical techniques, assessment and validation of source data, and revision studies.
Estimate.
Reported to staff during mission.