The extension of the Covid-19 pandemic forces Senegal to use for a mortgage from the Worldwide Financial Fund. Dakar has simply acquired a preliminary settlement for an quantity of 650 million {dollars}, or about 350 billion CFA francs. A sum meant to assist the nation’s economic system.
With few folks affected by Covid-19 (40,295 for a inhabitants of 16 million), Senegal, like different nations, has seen its onerous hit economic system. The nation nonetheless managed to keep up optimistic development final yr at a fee of 1.5% towards 4.4% the yr earlier than. It’s in a approach an achievement – in comparison with different nations – particularly on account of good agricultural harvests.
Nonetheless, the restrictive measures to gradual down the improvement of Covid-19 have severely hampered a number of different essential sectors of the Senegalese economic system, specifically transport or tourism and all associated actions, resembling the lodge business. And for this yr, the macroeconomic outlook has develop into much less favorable, prompting Senegal to show to the IMF.
Outcome: the creation of two $ 650 million lending mechanisms. This financing settlement is anticipated to run for one and a half years. A number of the cash might be used to assist the response to the well being disaster.
For 2021, the IMF now expects development of three.7% for Senegal, towards an preliminary forecast of 5.2%.
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