Senegal: 2006 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Senegal

International Monetary Fund

No 2007/335, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2006 Article IV Consultation highlights that Senegal has experienced strong growth, price stability, and a declining debt stock owing to substantial debt relief, but macroeconomic performance weakened in 2006. Following robust performance in 2003–05, economic growth is estimated to have fallen below 3.5 percent. The economy remains vulnerable to exogenous shocks and is dependent on donor support. The external current account deficit, excluding grants, is estimated to have increased by about 5 percent of GDP between 2004 and 2006, owing to the oil price shock and ICS’ (chemical export company) difficulties.

Keywords: ISCR; CR; government; Senegalese authorities; price; deficit; CFA franc; authorities' intention; oil price shock; prudent debt management policy; Debt relief; Capital spending; West Africa (search for similar items in EconPapers)
Pages: 76
Date: 2007-09-26
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