Discussions avec le Fmi : Cheikh Diba étale les points de divergence
Are discussions between the State of Senegal and the International Monetary Fund (IMF) stalled? The Minister of Finance and Budget, Cheikh Diba, provided clarification on this matter to the National Assembly on Tuesday. He indicated that discussions resumed on January 19, 2026, with the arrival of the new mission chief, Ms. Vera Mercedes.
“The discussions are going very well. After receiving the new head of mission, we put all the discussion topics on the table. The first on misreporting (the communication of erroneous data to the IMF) and the second on the negotiation of a new program,” he explained to the National Assembly this Tuesday.
Agreements on Misreporting
Cheikh Diba explains that all issues related to misreporting have been resolved. Agreements have even been reached on several points. “We agreed on the audit of the debt situation, on correcting public finance statistics, on quantitative matters, and on the framework for reform measures. We agreed on the soundness of the proposed recovery process,” the Minister of Finance asserts.
However, there are some preliminary measures that need to be implemented, the minister emphasizes. In his opinion, two measures remain to be addressed. “We can implement them before the board meeting on the misreporting issue. The problem doesn't arise with the first issue,” Cheikh Diba assures.
Regarding the second topic, “negotiating a new program with the IMF,” the Minister of Finance also provided an update. He noted that on October 3, 2025, the Managing Director of the IMF had convened an informal board meeting on Senegal's situation. Following this meeting, Kristalina Georgieva authorized her team to negotiate a new program.
Disagreements over the framing
Then, discussions began on the macroeconomic and budgetary framework. But disagreements remain regarding the framework and the level of economic growth projections. “We often disagree because we believe the IMF's assumptions about Senegal's economic situation are pessimistic, while the IMF considers our projections optimistic,” the minister explained.
However, both sides have been working to bridge the gap in their positions. Sheikh Diba indicates that last Friday, the IMF updated its macroeconomic framework and sent it to them. “By the end of the week, we will be able to discuss this economic framework and reach the results that will allow us to finalize these discussions,” he says.
The minister emphasizes that this is where the real challenge lies, particularly regarding the amount of funding to be mobilized. This will determine, over the medium term (from 2026 to 2028), the volume of resources the State will seek on the financial market to complete the financing of the economy.
“If we disagree on this point, the volume of financing will be significant. That is why the IMF believes that we will not be able to finalize the financing and thinks that the solution remains restructuring. But if we manage to converge on the essential indicators of the framework, the financing need will shrink to a level that will allow us to ensure that this financing is finalized,” the minister added.
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