Senegal Seeks New IMF Deal Amid Financial Misreporting Scandal

Senegal aims for a fresh IMF programme by June following an audit revealing financial discrepancies. The current $1.8 billion IMF facility was suspended due to misreported data under former President Sall's administration. Justice Minister Ousmane Diagne announces investigations into embezzlement and other financial crimes spanning 2019-2024.

Senegal is negotiating a new International Monetary Fund (IMF) programme by June, as announced by Finance Minister Cheikh Diba on Thursday. This follows revelations of financial misreporting, prompting the government to investigate these discrepancies.

The IMF had temporarily halted its $1.8 billion credit facility to Senegal pending a thorough review. The audit confirmed that previous reports significantly understated the nation’s debt and budget deficit during ex-President Macky Sall’s era. Diba expressed hopes for an agreement and prompt disbursement of funds by mid-year.

Justice Minister Ousmane Diagne stated investigations into alleged embezzlement and financial misconduct are underway, with potential implications for past ministers and officials from 2019-2024. However, Diagne refrained from specifying individuals linked to the malfeasance. The IMF remained unresponsive to immediate comment requests as they prepare to consult with Senegalese authorities.