DAKAR — Exclusive: Senegal’s IMF waiver to clear more cash not coming at Friday meeting – sources say, delaying vital funding for the West African nation.
Officials confirmed that the International Monetary Fund will not grant additional access to Senegal’s funds at the scheduled Friday session. The waiver was expected to release billions for government spending.
Exclusive: Senegal’s IMF waiver to clear more cash not coming at Friday meeting – sources added that bureaucratic reviews and technical assessments are still ongoing. This means Senegal will face short-term liquidity challenges.
The IMF had previously approved a waiver to allow Senegal to use special drawing rights (SDRs) beyond normal limits. The funds were intended to support fiscal stability, social programs, and economic recovery after pandemic-related disruptions.
Local economists warn that delays could affect public services and planned infrastructure projects. The government has relied on these funds to meet budget targets and avoid cuts in essential services.
Exclusive: Senegal’s IMF waiver to clear more cash not coming at Friday meeting – sources said both IMF and Senegalese officials remain in discussions. They are expected to resume talks in the coming weeks to finalize the release.
The IMF stressed that it is committed to supporting Senegal but requires full compliance with policy conditions before releasing additional cash. Authorities have emphasized that fiscal discipline and transparency are key prerequisites.
Political analysts note that delays in IMF funding could influence Senegal’s credit rating and investor confidence. However, they also suggest that careful monitoring ensures the funds are used efficiently.
Senegal’s finance ministry is reviewing spending plans to manage the temporary gap. Officials are prioritizing essential services while awaiting the IMF waiver, aiming to minimize impact on citizens.
The situation remains fluid, with financial markets closely watching developments. Government and IMF representatives continue dialogue to expedite access to funds once all conditions are satisfied.
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