Senegal has successfully raised $300 million from international financial markets to address its financing needs for the 2024 budget, according to the country’s finance ministry.
This move comes after the International Monetary Fund (IMF) delayed disbursements to Senegal following an audit that revealed a more significant debt and budget deficit than previously reported by the former administration.
In a statement, the finance ministry explained, “This operation is in response to the need to consolidate financing following the postponement of disbursements initially planned by the IMF.”
The government aims to engage with the IMF to establish a new program that aligns with its objectives for stabilizing the macroeconomic framework.