DAKAR (Reuters) – The International Monetary Fund (IMF) has reached a staff-level agreement with Senegal for the country to receive a disbursement of 126 billion CFA francs ($203 million) subject to executive board approval, the IMF mission chief said on Tuesday.
Senegal will also get an additional 40 billion CFA francs ($65 million) from a climate facility if approved by the IMF board, Edward Gemayel told a press conference in Dakar.
The West African country reached agreement with the IMF earlier this year on financing facilities totaling $1.9 billion, mostly from a 36-month extended credit facility.
Gemayel said on Tuesday that Senegal’s debt outlook remained sustainable. The forecast for 2024 economic growth has been revised down to 8.3% from 10.6% due to delays in oil and gas production, he said.
($1 = 619.3500 CFA francs)
(Reporting by Bate Felix; Writing by Nellie Peyton)