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International Monetary Fund. African Dept.

The Senegalese authorities have embarked on a critical phase of reforms, with the objective of helping the country reach an emerging market status through the acceleration of growth, the creation of jobs, and the improvement in the living standards of the population. In this endeavor, they have been designing and implementing a wide range of policies and reforms in close collaboration with the country’s development partners and benefited from the valuable policy advice of the Fund and its staff for which they are grateful. Despite the progress made toward

International Monetary Fund. African Dept.

1. My Senegalese authorities are appreciative of the close collaboration between Senegal and the Fund. They consider the recent Management visit in Dakar as a testimony of this productive working relationship and they highly value the fruitful policy dialogue they had with Management on that occasion. 2. The authorities also attach high importance to the policy advice provided by staff during the 2012 Article IV consultation; key among which is the need to ensure stricter control over the fiscal deficits in the near term and foster stronger and more inclusive

International Monetary Fund

broad money (in percent) 31.5 12.9 7.4 12.6 External public debt 51.1 44.4 42.9 17.0 Sources: Senegalese authorities and Fund staff estimates. 1/ Negative change indicates depreciation. 2/ Including official transfers. 3/ Including grants. 1 Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments