International Monetary Fund mission to Senegal concludes

A group from the International Monetary Fund (IMF) visited Dakar, Senegal earlier this month to discuss a three-year agreement under the Policy Support Instrument (PSI) approved in June.

The PSI is a flexible tool allowing low-income countries that do not want -- or need -- financial assistance to still receive the IMF's advice and support without a borrowing arrangement. 

Led by Ali Mansoor, the IMF mission visited with Senegal Prime Minister Mohammed Dionne, as well as with the ministers responsible for the economy and finance, planning, monitoring the PSI, the budget, energy, tourism,  and air transportation. The group also met with other senior government officials and representatives of Senegal’s development partners.

“Discussions between the authorities and the mission focused on economic policies and structural reforms that should enable Senegal to achieve the growth targets set forth in the PSI," Mansoor said following the meetings. "The mission emphasized that doubling and sustaining growth rates at 7 or 8 percent as envisaged in the PSI will require maintaining a sound macroeconomic framework in addition to accelerating the reforms required to promote private investment, including foreign investment."

Mansoor went on to say that the IMF group will recommend the report on the first review under the PSI arrangement be submitted to the IMF's executive board for discussions scheduled in December.