Senegal has earned a vote of confidence from the International Monetary Fund following the conclusion of an IMF mission led by Edward Gemayel on 4 November 2025.
The engagement, marked by what both parties described as “constructive and transparent” dialogue, centred on the country’s pressing fiscal challenges, including a public debt re-evaluated at 132 percent of GDP. In a strategic move, Dakar opted for a programme without financial disbursement, seeking to restore international credibility after a downgrade of its sovereign rating to Caa1 by Moody’s. Authorities emphasised that the arrangement signals commitment to sound governance and stability at a moment when market confidence had been strained.
Government officials, including Finance Minister Cheikh Diba and Economy Minister Abdourahmane Sarr, reaffirmed Senegal’s resolve to implement ambitious structural reforms. Their roadmap prioritises enhanced domestic revenue mobilisation, disciplined management of public expenditure, and a gradual overhaul of energy subsidies, balancing fiscal prudence with social cohesion. Debt service obligations are projected to rise sharply from 5,490 billion CFA francs in 2026 to 4,410 billion in 2027 and 4,970 billion in 2028, underscoring the scale of the fiscal recalibration required to anchor stability and safeguard long-term development ambitions.
Despite these constraints, Senegal maintains cautious optimism about its growth trajectory, buoyed by expected increases in oil and gas production from 2026 and continued economic diversification. The IMF commended the government’s transparency efforts and its commitment to improving the reliability of fiscal data, a crucial step after disclosures of hidden debt under a previous administration.
The mission’s final conclusions, to be issued on 4 November, will define the macroeconomic framework for the coming years and influence access to external finance. Senegal’s pledge to align fiscal discipline with sustainable development and social stability signals a determined march toward renewed financial strength and global investor trust.