Senegal Seeks New IMF Deal Amid Financial Controversy

Senegal's Finance Minister Cheikh Diba announced the government's intention to secure a new IMF program by June. This follows an audit revealing financial misreporting under former President Macky Sall's administration. Investigations into alleged financial misconduct are underway, potentially involving past officials from 2019-2024.

Senegal is aiming to establish a new program with the International Monetary Fund by June, according to Finance Minister Cheikh Diba. This comes in the wake of an audit disclosing financial misstatements by previous authorities.

The IMF halted its $1.8 billion credit facility to Senegal, awaiting a financial review that exposed a broader debt and budget deficit than reported by the former government. Diba expressed optimism about reaching a new agreement with the IMF for a subsequent disbursement.

Justice Minister Ousmane Diagne highlighted ongoing investigations into possible embezzlement, forgery, and money laundering involving former officials from 2019 to 2024. Despite the former President's party disputing the audit's findings, the IMF is engaging in dialogue with Senegal's authorities.

(With inputs from agencies.)