DAKAR (Reuters) -The International Monetary Fund has extended its mission to Senegal by several days, a spokesperson said on Tuesday.
The West African country started talks on a new programme last month and an IMF team has been in Dakar since October 22.
“Our visit so far has been productive, and we are continuing discussions on the policies and reforms that could underpin the authorities’ request for an IMF-supported program,” the spokesperson told Reuters.
The Fund froze Senegal’s previous $1.8 billion lending programme in 2024 after the country’s then-newly elected leaders uncovered billions in unreported debt.
Senegal’s hidden debt has ballooned to more than $11 billion, and the IMF now estimates that its debt-to-GDP ratio – including central government debt, debt held by state-owned enterprises and domestic arrears – was at 132% at the end of 2024.
Investors are split on whether the Fund might tell Senegal that it must restructure or reprofile in order to make its debt sustainable, a move the country’s leaders are reluctant to take.
The IMF spokesperson said a concluding statement will be issued at the end of the visit.
(Reporting by Portia Crowe; Additional reporting by Libby George;Writing by Anait Miridzhanian; Editing by Alexander Winning)
