IMF Delays Senegal Decision, New Bailout Talks Set for Summer

The International Monetary Fund (IMF) has delayed its decision on whether Senegal must repay funds from a frozen $1.8 billion programme, pushing back hopes for a new bailout. Talks on a fresh deal are now expected to begin in June or July, rather than April as anticipated. The delay follows revelations by Senegal’s new government that previous officials misreported economic data, inflating debt levels. Senegal’s debt stood at nearly 100% of GDP at the end of 2023, far higher than the earlier reported 74%. The delay risks prolonging financial uncertainty and stalling critical reforms amid economic challenges.

Reuters