Senegalese Finance Minister Cheikh Diba explains delay in IMF negotiations due to past erroneous financial data
via SeneNews4 min read
Cheikh Diba, the Senegalese Minister of Finance, Budget, and Plan, announced that negotiations with the International Monetary Fund IMF are delayed because of inaccurate financial data previously submitted. Despite this, the Senegalese government is committed to its debt management strategy and is not considering restructuring its debt. The minister clarified that the discussions are not stalled due to disagreement on debt management policy, but rather by the consequences of "misreporting" public finances, which new authorities have uncovered. Diba noted that for several years, incorrect data regarding the budget deficit and debt levels were transmitted to international partners, a situation the government has acknowledged. This unprecedented situation for the IMF has led the institution to strengthen its verification processes before fully resuming cooperation with Senegal. To rebuild trust, the government has launched a comprehensive reform program aimed at strengthening public finance governance, including a reform matrix to address identified shortcomings and improve budgetary management. Cheikh Diba believes these measures are beginning to reassure technical and financial partners, and discussions with the IMF are ongoing to reach a mutually satisfactory agreement.
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