Gambiaj.com – (DAKAR, Senegal) – The International Monetary Fund (IMF) has once again delayed a clear decision on Senegal’s request for a new financial program, despite acknowledging the country’s recent efforts to strengthen transparency and manage its public debt. IMF did not ultimately submit the crucial waiver related to a false debt declaration to a vote on Friday, October 3rd, a prerequisite for Senegal’s access to new financing.
On Friday, the IMF Executive Board discussed Senegal’s case, which has been overshadowed by concerns over past misreporting and questions around the country’s economic direction. Hopes were high that the meeting would unlock progress toward a new agreement. However, IMF Managing Director Kristalina Georgieva cautioned that no deal was imminent.
“I welcome Senegal’s official request for a new IMF-supported program, which reflects the authorities’ strong determination to advance their economic reform agenda,” Georgieva said after the meeting.
She confirmed that preliminary talks had taken place in Dakar in August and that formal negotiations would begin at the IMF and World Bank Annual Meetings later this month in Washington.
Still, her carefully worded remarks offered no timeline for when a new program might be finalized, leaving the country in limbo.
The delay has sparked growing frustration in Dakar. Critics argue that the uncertainty is stalling Senegal’s return to the global financial system and putting additional strain on its economy.
The symbolic nature of the IMF’s hesitation—what some describe as “one step forward, two steps back”—is increasingly being felt across political and civil society circles.
Guy Marius Sagna, a lawmaker from the ruling PASTEF party, sharply criticized the Bretton Woods institution. “Either the IMF reforms itself, or it confirms its status as a tool of imperialism. The patriots of Senegal win or win,” he wrote on his social media platforms.
Human rights defender and Africa Jomm Center founder Alioune Tine also urged the IMF to move faster. “We must stop the maneuvers delaying IMF disbursement,” he said in a statement. “The Board should release the funds necessary for Senegal to access, under the best conditions, the path to emergence and prosperity.”
Tine stressed that the Senegalese government has demonstrated its willingness to ensure transparency in managing public affairs. He warned that prolonged delays could discourage African societies striving to renew their political leadership and strengthen democratic institutions.
The IMF has praised Senegal for conducting successful audits of its public debt, yet its latest decision underscores a lingering hesitation that could weigh heavily on the country’s reform agenda.
As the mid-October Washington meetings approach, all eyes remain on whether Senegal can secure the program it urgently needs to stabilize its economy and reassure investors.
