By DAKAR (Reuters) – Senegal is in discussion with the International Monetary Fund (IMF) to take corrective measures after an audit revealed that its debt and budget deficit were much wider than the previous administration had reported, the country’s economy minister said on Thursday.
Abdourahmane Sarr said that an audit of Senegal’s finances ordered by newly elected president Bassirou Diomaye Faye, showed the deficit at the end of 2023 stood at over 10% compared with around 5% the previous government had reported.
“The authorities we replaced lied to the country and lied to partners, falsifying figures,” Senegal’s Prime Minister Ousmane Sonko, said during the government news conference on Thursday.
Faye, who was swept into power in a landslide election victory in April amid public anger against the previous administration of former president Macky Sall, had promised audits into the previous government’s handling of affairs.
Sarr told the press conference that as a consequence of the false numbers that the previous authorities had reported, Faye’s government decided not to table Senegal’s request for an IMF disbursement in July following the fund’s review in June.
The fund had approved a three-year $1.8 billion credit facility in June last year and the West African nation was expected to receive some disbursement from the facility after the review.
“An examination of Senegal’s dossier based on false numbers would have led to what is known as misreporting to the IMF,” Sarr told the press conference, adding that any IMF disbursement based on misreporting would have to be reimbursed, and corrective measures taken.
“IMF has been informed and Senegal is in discussion with the IMF on corrective measures to be taken either on the current IMF programme or on a separate programme to be negotiated with the IMF as soon as possible,” he added.
The IMF did not immediately respond to a request for comments.