“Faced with our country’s budgetary deficits, debt and cooperation strategies are aimed at the international financial market and donors,” declared Abdourahmane Sarr, guest of the Sunday Jury on Iradio. According to the Minister of the Economy, the objective of these strategies is “to have more sovereignty to finance the various projects”.
”We are in the process of developing a debt strategy. In these debt strategies you will decide, given your deficit, what instruments you will use to finance them. There is the regional market, there is the international financial market, there are bilateral and multilateral partners. Is it external debt or national currency debt and in what proportion? This is a strategy that we are working on precisely to have more sovereignty in the way in which we finance our projects,” confided Mr. Sarr.
In addition, he added, “the second thing we are working on is a cooperation strategy. We will, based on the projects that we want to implement, discuss with the partners to tell them, this is what we want to do, how can you support us in what we want to do, sector by sector.”
Furthermore, Minister Sarr spoke on the 2050 Framework, citing the need to clean up the macroeconomic framework. “It will be, in fact,” he said. While emphasizing that this remains a sine qua non condition if we want to deal with investments that are not productive. The consolidation shown by the JDD guest consists, according to him, of “reducing the deficits so that at the financial level it is a debt that we are able to support”.
“And to the extent that the deficit which was announced to us is 5% of GDP on average over the last 5 years turns out to be double and the debt of around 74% turns out to be less than 85% of GDP, this which puts us in a category of debt risks and high risks of over-indebtedness,” said the state financier.
In short, to achieve all of the above-mentioned reflections, thinks Abdourahmane Sarr, “it is necessary to regularize”. And this necessity in no way takes away our ability to finance spending plans and quality public services,” he concluded.
