Senegal raises $300 mn on international financial market
The Peninsula
Dakar: Senegal has raised $300 million on the international market to cover its financing needs following an alarming financial audit and the postpone...
Dakar: Senegal has raised $300 million on the international market to cover its financing needs following an alarming financial audit and the postponement of disbursements by the IMF, the government said Wednesday.
Six months after taking office, the government in September presented the conclusions of its review of public finances in the West African country, with Prime Minister Ousmane Sonko describing the situation as "catastrophic".
The government audit put the budget deficit at 10.4 percent of GDP, rather than the 5.5 percent announced by the previous administration.
Public debt stood at 76.3 percent of GDP, the audit concluded, rather than the previously announced 65.9 percent.
Sonko accused the former administration of having manipulated the financial figures given to international partners including the IMF, something the previous leaders deny.
