Senegal and IMF continue discussions on new program following "hidden" debt issue

These negotiations follow the issue of so-called "hidden" debt. The discussions, which began in October 2025 at the Annual Meetings of the IMF and World Bank in Washington, aim to achieve a common vision on macroeconomic prospects, financing needs, and policies and reforms that could be supported by an IMF loan agreement. The overall objective is to help Senegal maintain macroeconomic stability and debt sustainability, and to foster sustainable and inclusive growth.

The IMF noted that the Senegalese economy has shown resilience despite a challenging global environment, aided by strong growth in the hydrocarbon sector and improved external and budgetary balances due to oil exports and expenditure control efforts. However, significant vulnerabilities related to public finances and debt persist, with rising global oil prices expected to strain public finances due to energy subsidies. The IMF services have praised the authorities' transparency and actions to identify and declare hidden debt, including audits to determine outstanding public debt and reforms to strengthen debt management.

Any decision regarding a debt strategy remains the responsibility of the Senegalese authorities, with the IMF and World Bank cooperating closely to update de