The International Monetary Fund (IMF) has announced plans to begin discussions on a new fund-supported program with Senegal this month, with talks expected to take place during the upcoming IMF and World Bank annual meetings in Washington.
The announcement comes as Senegal seeks renewed financial support after an earlier program was put on hold due to a debt misreporting issue.
News of the pending talks boosted investor sentiment, with Senegal’s 2028 bonds rising 2 cents to 88.80 cents on the dollar.
IMF communications director Julie Kozack confirmed that the Fund’s board will meet on Friday to review Senegal’s situation, including the debt reporting controversy.
She praised Senegalese authorities for their cooperation in providing detailed audit reports and granting full access to findings but stopped short of confirming whether the board would approve a waiver on the misreporting issue, which is key for unlocking future support.
The outcome of the board’s deliberations will also be communicated today Friday.
