Senegal has just obtained from the International Monetary Fund (IMF) a preliminary agreement for an amount of 650 million dollars, or about 350 billion CFA francs.

The restrictive measures to curb the progression of Covid-19 have severely hampered several vital sectors of the Senegalese economy, in particular transport, tourism and all related activities, such as the hotel industry. And for this year the macroeconomic outlook has become less favourable, which has prompted Senegal to turn to the IMF.
The government has put in place two loan mechanisms totaling $650 million. This funding agreement is expected to span a year and a half. Part of the money will be used to support the response to the health crisis.