Senegal's Debt Waiver Delays: IMF Board Yet to Vote
Senegal is awaiting a crucial debt misreporting waiver from the IMF, expected since May, which has delayed access to new funding. Although discussions are progressing, a formal IMF board vote remains unscheduled. The original debt, discovered by new leaders, has surged to $11 billion.
- Country:
- Senegal
The International Monetary Fund will not be voting on a key debt misreporting waiver for Senegal during its upcoming board meeting, according to sources familiar with the situation. Although the matter will be discussed, a formal decision is pending due to unmet criteria required for a board vote.
Senegal has been anticipating this waiver since May to access new IMF funds, after a $1.8 billion lending program was frozen. This was in the wake of newly elected officials uncovering an unreported debt figure, now escalating beyond $11 billion.
Despite ongoing discussions indicating a likely resolution within the year, no date has been set for a formal meeting. The IMF and Senegalese finance officials declined to comment, highlighting the ongoing complexities in finalizing the waiver.
(With inputs from agencies.)
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