After freezing a $1.8 billion loan, Senegal intensifies its discussions with the IMF.

Written by: Mohammed Omran

Received Senegalese President Director of the Africa Department at the International Monetary Fund Al-Zain Al-Zain Zeidan met with Bisseiro Diomaye Faye today, Friday, amid ongoing discussions between the country and the fund regarding the so-called hidden debt crisis.

The Senegalese presidency clarified that Ould Zeidan “praised the efforts made to purify public finances and ensure their transparency,” adding in a social media post that the discussions “emphasized the urgent need for a program that protects public and private investment and social safety nets.”.

These discussions come three months after the Managing Director of the International Monetary Fund, Kristalina Georgieva, appointed Al-Zain Al-Zain Zidan as Director of the IMF's Africa Department.

The International Monetary Fund announced in late May that a team from the IMF held “frank and constructive technical discussions” during a visit to Senegal and that it would hold further talks regarding the country's request for a new support program.

The fund froze a previous $1.8 billion loan program for the country after discovering a larger-than-announced debt, and since then, Senegal has been excluded from international capital markets, forcing it to rely on regional borrowing.