Le Fmi s’annonce à Dakar : Les raisons d’une mission "importante", au lendemain du remaniement
Struggling with a critical budget situation and a heavy debt burden, Senegal has just emerged from two weeks of turmoil at the highest levels of government. Ousmane Sonko, who has always openly opposed debt restructuring, was ousted from the prime ministership. He returned to the National Assembly, where he became president. This Thursday, barely had this game of musical chairs ended when the International Monetary Fund (IMF) announced a visit.
“An IMF team is scheduled to visit Senegal the week of June 15 to continue technical discussions with the authorities,” announced Julie Kozack, head of the institution’s Communications Department, on Thursday. Regarding the mission’s objective, she explained: “These technical discussions aim to reach a shared understanding of the macroeconomic outlook, Senegal’s financing needs, and its reform priorities.”
"He assured me that they made no commitments."
Julie Kozack indicates that all these elements will be essential to address the issue of Senegal's debt vulnerability. She assures, however, that they remain committed to working with the Senegalese authorities on their request for the signing of a new program.
As a reminder, Ousmane Sonko has always opposed debt restructuring. He even claims to have discussed the issue with the Head of State the day after his dismissal: "He assured me that neither he nor his Finance Minister had made any commitments to the IMF regarding debt restructuring. That they maintained the same position and were working on a different solution, particularly concerning guarantees," he explained last Tuesday. He found these assurances unconvincing.
Now president of the National Assembly, Ousmane Sonko, with his overwhelming majority, has the power to block any proposed legislation aimed at restructuring the system. "Let's put the country's interests before all other concerns. Let's reassure Senegal's partners, donors, and investors. Because if we enter into a crisis of 'dissolution' and 'censorship,' they will never reach an agreement with the IMF," he told the press.
Why do the discussions drag on...?
Sheikh Diba, the state's finance minister, whose position was strengthened in the new government, explained on May 16th that discussions with the IMF were dragging on because "the IMF is being a bit more cautious in its approach to various issues across all subjects." This was due to the misreporting scandal. "The positive thing is that we understand each other well, we have good discussions," he asserted.
During the Africa Forward summit in Nairobi, the President of the Republic met with the Managing Director of the IMF. During the meeting, "many areas of uncertainty were clarified" regarding the instruments that the Senegalese government intends to implement. This is to provide effective responses to the various "concerns that divide us with the IMF in terms of negotiations," stated Cheikh Diba.
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