Sene­gal eco­nomic out­look re­mains fa­vor­able: IMF

The Pak Banker - - COMPANIES/BOSS -

An In­ter­na­tional Mon­e­tary Fund (IMF) mis­sion led by Ali Man­soor vis­ited Dakar from March 1-13, 2016 to con­duct dis­cus­sions on the se­cond re­view of the three-year ar­range­ment un­der the Pol­icy Sup­port In­stru­ment (PSI) ap­proved in June 2015.

At the con­clu­sion of the visit, Mr. Man­soor said, macroe­co­nomic per­for­mance dur­ing 2015 has been strong with growth of 6.5 per­cent for the first time over the last twelve years. This re­flects in par­tic­u­lar the ini­ti­a­tion of the Plan Sene­gal Emer­gent (PSE)-re­lated projects and the buoy­ant per­for­mance in agri­cul­ture thanks to good weather and higher pro­duc­tiv­ity in the sec­tor. PSI pro­gram im­ple­men­ta­tion con­tin­ues to be sat­is­fac­tory; all the quan­ti­ta­tive cri­te­ria and most in­dica­tive tar­gets for 2015 have been met, in­clud­ing the fis­cal deficit tar­get. How­ever, im­ple­men­ta­tion of struc­tural re­forms has been slow with sev­eral struc­tural bench­marks, par­tic­u­larly those aimed at im­prov­ing eco­nomic gov­er­nance, not yet im­ple­mented.

The eco­nomic out­look re­mains fa­vor­able in the short term with growth pro­jected to reach 6.5 per­cent in 2016.

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