West Africa: IMF Visits Senegal as Nation Seeks New Funding Deal

As an International Monetary Fund mission arrives in Senegal this week, investors are watching to see whether the West African nation will inch closer to securing new funding needed to stabilize its strained public finances. The visit will focus on concrete steps to address “recent data” issues and “to advance work toward presenting the misreporting case to the IMF’s Executive Board,” an IMF spokesman said by email. A review of Senegal’s finances by President Bassirou Diomaye Faye’s administration last year found that the previous government misreported key financial numbers and hid $7 billion of borrowing. Ondiro Oganga reports.