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Icpe-supported program: IMF grants $215.78 million to Senegal

28/06/2022
Categories: Sectors

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At the end of the review of the program supported by the Economic Policy Coordination Instrument (EPCI), Senegal obtained a disbursement of $215.78 million from the International Monetary Fund (IMF). The IMF Executive Board also completed the second review of the Stand-By Arrangement (SBA) and the Stand-By Arrangement (SBA) under the Stand-By Credit Facility (SBCF).

In a press release, the IMF Executive Board said that the completion of the reviews allows for the immediate disbursement of approximately $215.78 million (Dts 161.82 million) to Senegal. The Board also approved an increase in access and a waiver for non-compliance with a performance criterion, as well as a modification of a performance criterion and quantitative targets.

As a result, the combined funding approved in June 2021 for an 18-month term under the CA and FCC was increased byAs a result, the combined 18-month CA and CCF funding approved in June 2021 was increased by approximately $172.6 million (129.44 million SDRs) from $650 million (453 million SDRs) at the time of approval to approximately $776.67 million (582.44 million SDRs).

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