Senegal: Selected Issues

International Monetary Fund

No 2008/221, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes Senegal’s real effective exchange rate (REER) and external competitiveness. A REER significantly above its equilibrium, as determined by economic fundamentals, can impede a country’s external competitiveness, calling for corrective macroeconomic measures. This paper finds no conclusive evidence of a REER overvaluation, implying that structural reforms are key to improving Senegal’s external competitiveness. The paper also describes Senegal’s export performance, developments of the REER, and an empirical analysis of the equilibrium REER. Structural measures of competitiveness are also illustrated.

Keywords: ISCR; CR; price; Senegal; revenue; revenue loss; liberalization; trade liberalization; business environment; export performance; loss estimate; EU imports; assumed price effect; price increase; food price inflation; Inflation; Real effective exchange rates; Imports; Trade liberalization; Energy prices; Global; Africa; Europe; Caribbean; Sub-Saharan Africa; West Africa (search for similar items in EconPapers)
Pages: 51
Date: 2008-07-08
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Citations: View citations in EconPapers (5)

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