Following the announcement of a postponement of disbursements from the International Monetary Fund (IMF) for Senegal, journalist and analyst Madiambal Diagne expressed his dissatisfaction on the X platform (formerly Twitter).
Madiambal Diagne deplored the attitude of the Senegalese government, saying: “Who can say they are surprised by such a decision by the IMF? I had to raise the alarm in every tone but the government continued to turn a deaf ear. Too bad for Senegal. The budgetary situation will be even more catastrophic.” This reaction echoes the concerns of many observers who fear that the freeze of the IMF’s $1.9 billion program, agreed in June 2023, will worsen the country’s economic situation.
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This program was suspended following an audit revealing higher than expected debt and deficit figures. These revelations not only affected Senegal’s financial credibility but also led to a rise in bond yields and a downgrade of its credit rating. The IMF has indicated that it will not consider re-examining the Senegalese request before the audit findings are certified by the Court of Auditors, which could take several more months. Madiambal Diagne, known for his harsh criticism, highlights the growing risks for Senegal’s public finances and deplores the government’s inaction in the face of this situation.
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