International Monetary Fund (IMF) Reaches Staff-Level Agreement on an Extended Credit Facility Arrangement with Senegal "The Senegalese authorities and IMF staff have reached a staff-level agreement on key economic policies that could underpin a 36-month arrangement under The Extended Credit Facility (ECF) of about US$2.2 billion (SDR 1,537.1 million, or 475 percent of quota) to support the authorities' economic and financial reform program for 2026–29. The agreement remains subject to IMF Management and Executive Board approval, and it requires decisive corrective actions to support the authorities’ request for a waiver in the misreporting case prior to Executive Board approval. It also requires the receipt of the necessary financing assurances from Senegal's partners. The IMF-supported program is expected to help catalyze financing from the World Bank, the African Development Bank, and other development partners.
“Senegal’s economy remained resilient, growing by 6.7 percent in 2025 as oil production entered its first full year, although non-hydrocarbon GDP growth eased to 2.2 percent. Inflation remained within the target range at 1.4 percent. In the first quarter of 2026, non-hydrocarbon GDP growth rebounded to 4.7 percent year-on-year, supported by strong private consumption.
“Key reforms under the IMF-supported program aim to restore the sustainability of public finances while protecting vulnerable households. The fiscal strategy focuses on strengthening domestic resource mobilization and streamline expenditure, while reinforcing social safety nets, particularly through targeted cash transfers. https://imf-fmi.africa-newsroom.com/press/international-monetary-fund-imf-reaches-stafflevel-agreement-on-an-extended-credit-facility-arrangement-with-senegal?lang=en
IMF
The Extended Credit Facility (ECF)
The Extended Credit Facility (ECF) provides medium-term financial assistance to low-income countries (LICs) with protracted balance of payments problems. The ECF is one of the facilities under the Poverty Reduction and Growth Trust (PRGT).
September 1, 2026 371 2
