
IMF clarifies its role in Senegal's public finance irregularities as new agreement nears
After two years of disagreement over "misreporting" of public finances and hidden debt, Senegal and the International Monetary Fund IMF are moving towards a new agreement for a 1,243 billion FCFA program. Before finalizing this, the IMF is clarifying its role in uncovering the irregularities that significantly altered Senegal's public finance data. Majdi Debbich, the IMF Resident Representative in Senegal, stated that the IMF is not an audit firm and relies on data provided by authorities, cross-referencing it and offering technical assistance to improve statistical quality. Debbich noted that between 2019 and 2023, several disbursements were not properly integrated into official public finance statistics, attributing this to "institutional reasons." These omissions contributed to the significant discrepancy between initially reported figures and the actual debt situation, revealed after an audit. To prevent recurrence, Dakar and the IMF have implemented reforms, including centralizing debt management functions within a Directorate General of Financing and Debt. Debbich described this reorganization as a "decisive step," as debt management was previously spread across multiple ministries. The IMF aims to enhance the traceability and reliability of state commitment information. Debbich confirmed that the new public finance situation, with Senegalese public debt estimated to be around 125% of GDP in 2025 after reaching approximately 132% of GDP by the end of 2024, will serve as



