Senegalese economist Magaye Gaye recently revealed that he sent a letter to the International Monetary Fund (IMF) on September 30, to request clarification regarding the situation of Senegal’s public finances, which he considers worrying. In this correspondence, the former official of the West African Development Bank (BOAD) requested that an internal investigation be carried out to identify possible responsibilities within the IMF teams, concerning the management of this situation.
Magaye Gaye stressed that this initiative is part of the efforts made by the new Senegalese authorities to assess and redress the state of public finances. According to him, these authorities have taken responsible and constructive measures to correct anomalies in the past management of the country’s public finances. Mr. Gaye insisted on the fact that this approach, based on good faith, aimed to clean up practices and rectify the failures identified in the previous management of public finances.
However, the Senegalese economist expressed his dissatisfaction with the silence of the IMF, which, according to him, has still not responded to his correspondence, nor even sent an acknowledgment of receipt, more than three months after sending the letter . Magaye Gaye deplored this silence, which, in his eyes, deviates from the expected standards of courtesy and professionalism, especially since the letter followed the appropriate official channels. “This silence is all the more regrettable as the correspondence followed the appropriate official channels,” he added.
By way of comparison, Magaye Gaye spoke of the responsive and courteous attitude of the World Bank, which in the past had responded quickly and respectfully to his correspondence. He recalled that around ten years ago, when he denounced the suspension of a financing program in Uganda after the adoption of an anti-LGBT law, the World Bank had responded carefully to each of his letters, thus showing deep respect for the stakeholders.
-Magaye Gaye expressed his feeling that the IMF’s silence could be interpreted as condescension. He believes that the issue raised in his correspondence is relevant and worrying, not only for the Senegalese authorities, but also for many Africans. According to him, it is high time for the IMF to provide clear answers in order to dispel doubts regarding the management of Senegal’s public finances.
Finally, the Senegalese economist called on the IMF to react and respond to the legitimate questions raised by this situation, believing that this is essential to restore transparency and confidence in international financial practices.
