The economic situation in Senegal is not thriving at all. Worse than that, the economic woes lived by the country obliged the State to seek help and ask the IMF (International Monetary Fund) to do something. Without forgetting to blame the former government for the current situation.
President Bassirou Diomaye Faye was surely expecting a better financial and economic situation when he won the elections that propelled him at the head of Senegal. The reality is rather different: the budget deficit is reaching 14%, and the public debt stands for 119% of the GDP. According to Dakar, the blame must be put on Macky Sall’s former government (2012-2024). The true figures of the key indicators have been hidden, the current government claims.
The IMF confirmed what Dakar was fearing. Indeed, some significant wrong declarations were made regarding budget deficit and public debt for the period 2019-2023. Kristalina Georgieva, the general manager of the IMF, thanked the Senegalese authorities for their assertions. The Fund also answered immediately to the request of Senegal, asking for an aid program to try to improve the situation.
The situation worldwide is becoming a real challenge for the Fund. Many countries have been fragilized by wars and conflicts over the last couple of years. Countries need help, not only for the people but also for their budget and financial balance. The Middle East is concerned as well, and Lebanon recently sent an aid request to the Fund. A program is also pending in Egypt and Jordania. The General Manager of the IMF pointed out the necessity of peace in those regions to make the financial aid more efficient.
If peace is warranted in Senegal, the fragility of the economy could undermine the populations at some point. The Macky Sall government must be held responsible for the situation, while the current officials are trying to find a long-term solution for the country and the people.
Guillaume Mahot