The International Monetary Fund has indicated that new financing for Senegal could face delays as it seeks further clarification on previously undisclosed borrowing.

An IMF team met with Senegalese authorities this week to outline corrective measures addressing under-reported loans by the former government. The discrepancies pushed Senegal’s central government debt to 118.8% of gross domestic product by the end of 2024, up from 99.7% at the end of 2023, according to the IMF. A recent audit revealed that previously undisclosed liabilities were a key factor in the revised figures.

Edward Gemayel, head of the IMF mission in Senegal from August 19 to Tuesday, said discussions on the proposed remedies will continue over the coming weeks. Measures under consideration include tightening budget oversight, auditing outstanding arrears, and consolidating government accounts through a Treasury Single Account.

Despite fiscal challenges, Senegal’s economy has shown resilience, expanding 12.1% year-on-year in the first quarter of 2025, largely driven by the hydrocarbon sector. The IMF noted that strengthening debt transparency and reporting remains essential to securing future funding.