Senegal: First Review Under the Policy Support Instrument and Request for Modification of Assessment Criteria-Press Release; and Staff Report

International Monetary Fund

No 2016/003, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Senegal’s First Review Under the Policy Support Instrument (PSI) and Request for Modification of Assessment Criteria. Program performance through September was broadly satisfactory. All end-June assessment criteria were met but the end-June indicative target on tax revenue was missed because of a shortfall in customs revenue. Continued rationalization and better control of public expenditure helped meet the fiscal deficit target despite the shortfall in revenue. All structural benchmarks were met. In line with the IMF’s new debt limits policy, the authorities request the removal of the nonconcessional external debt assessment criteria. The IMF staff supports the authorities’ request for the completion of the first PSI review.

Keywords: ISCR; CR; tax revenue shortfall; target; June; debt service; debt sustainability; accounts payable; exchange rate; deficit target; GDP deflator; financing mix; Debt sustainability analysis; Budget planning and preparation; Public investment and public-private partnerships (PPP); West Africa; Global (search for similar items in EconPapers)
Pages: 60
Date: 2016-01-06
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