Senegal: First Reviews Under the Extended Fund Facility, the Extended Credit Facility, and the Resilience and Sustainability Facility Arrangements, Requests for Modification of the Quantitative Performance Criteria and Rephasing of Access-Press Releas

First Reviews Under the Extended Fund Facility, the Extended Credit Facility, and the Resilience and Sustainability Facility Arrangements, Requests for Modification of the Quantitative Performance Criteria and Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Senegal

Author: International Monetary Fund. African Dept.

Senegal: First Reviews Under the Extended Fund Facility, the Extended Credit Facility, and the Resilience and Sustainability Facility Arrangements, Requests for Modification of the Quantitative Performance Criteria and Rephasing of Access-Press Release; Staff Report

Volume/Issue: Volume 2023 Issue 435

Publication date: December 2023

ISBN: 9798400263330

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Topics covered in this book

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Money and Monetary Policy , Public Finance , International - Economics , Environmental Economics , Environmental Conservation and Protection , Public Policy- Environmental Policy , Senegalese authorities , RSF arrangement , government infrastructure loan , unfaltering commitment , RSF reform area , Policy discussion , Resilience and Sustainability Facility arrangement , Climate change , Budget planning and preparation , Climate finance , Global , West Africa , Middle East

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Summary

The Senegalese economy continues to face headwinds. Despite the difficult socioeconomic environment, the authorities remain committed to the program objectives. Some of the downside risks identified at the time of the program request have materialized, leading to a downward revision of near-term growth. Inflation is projected to decline more gradually than anticipated. While near-term risks remain titled to the downside, with appropriate policies and the start of hydrocarbon production, medium-term prospects are favorable.