Magatte Wade : «Les grands enjeux de la mission du Fmi au Sénégal…»
A mission from the International Monetary Fund (IMF) is currently in Senegal amid fiscal pressures. Magatte Wade, a former African Development Bank (ADB) official and mayor of Ngaye Mékhé, spoke to Seneweb about the key challenges of this delicate mission.
The Ministry of Finance has announced an IMF mission to Senegal, amid the ongoing repercussions of the misreporting scandal. What do you think are the key issues at stake in this meeting between the IMF and the Senegalese government?
The issues are as simple as Senegal and the IMF have decided to resume dialogue even though it has never been broken in order to find ways out of the crisis to resume cooperation and put an end to the speculations and fears of the Government of Senegal. Both parties are each playing their role: the IMF is in its role to assist countries in difficulty as is the case of Senegal by proposing the conditions for exiting the economic crisis while Senegal is a sovereign state that seeks the economic and social progress of its populations in the exercise of a power recently acquired in extremely difficult situations.
As you have indicated, the current government has found itself in a critical situation regarding the debt burden and debt servicing, marked by over-indebtedness, a large part of which was allegedly concealed by the Macky Sall regime. Let us not talk about the domestic debt and the balance of payments deficit, because the country imports more than it produces and must pay for its imports in foreign currency.
Furthermore, the question that arises is how the IMF could have ignored the hidden debt and why it did not raise the alarm, in accordance with its advisory role, in the face of such misconduct. Today, the IMF confines itself to its position of seeking greater clarity in misreporting. But what it is most interested in is examining the actions to be taken to help Senegal clean up its public finances and revive its economy. To benefit from this assistance, like many countries, if not almost all, the IMF and Senegal must engage in a frank and open dialogue to find flexible solutions that take into account the harsh realities facing the current government.
What can we actually expect from the IMF to loosen the grip on the Senegalese authorities, at a time when the State of Senegal has seen its rating downgraded by a number of rating agencies?
The ratings awarded by rating agencies are often, if not generally, taken into account by the IMF in its assessment criteria for a country's economy and finances. The IMF has not broken its partnership with Senegal. While engaging in dialogue, it must continue its mission of providing advice, capacity building, and technical assistance. Senegal has already made proposals regarding subsidies and aimed at gradually reducing or eliminating them, as well as those relating to tax exemptions. The Senegalese government needs time to refine all its recovery planning documents, not bitter pills like the IMF so skillfully dispenses. The Minister of Economy is a former IMF member. He will be able to lead discussions, which must not be solely political. Senegal needs all its partners and all its sons. Finally, let us remember that the IMF intervenes particularly in monetary and financial matters for the vitality of its member countries' economies.
The IMF had suspended its program with Senegal and blocked its disbursements. Is there a risk that it will propose a more restrictive program, of the "structural adjustment" type, including the elimination of subsidies?
This is obvious even if the word structural adjustment is traumatic for the average Senegalese who lived through the structural adjustment programs that Senghor saw coming and which were chaotic for Abdou Diouf. What then can be said of the current government? Senegal knows what the IMF expects from its leaders. It is nothing more and nothing less than to clean up public finances and especially to resolve the thorny problem of the debt burden and debt servicing in order to restart the stalled economic machine. For the time being, Senegal, which has developed an economic recovery plan, is aware of this, much more so than the IMF. It is clear that it will be through courageous and in-depth reforms that Senegal will get out of this despite the oil and gas windfall. The difficult economic situation the country is going through is not a better ally for carrying out such large-scale reforms. How can we eliminate or reduce subsidies for energy, food products, as well as certain tax exemptions without compromising the social climate during this period? The IMF will certainly demand efforts from Senegal; how and which ones? Will it obtain them all? Perhaps not, but everything will depend on the nature of the negotiations. I do not see Senegal accepting the term "structural adjustment" in the terms of the agreement that will be concluded with the IMF.
What impact could the government's recovery plan have on these discussions?
The government has included drastic measures in its recovery plan. This is already a very good thing. Whether it's measures to broaden the tax base or strengthen financial governance, many of the ingredients are already mentioned.
In short, what objectives should our authorities aim for during these discussions with the IMF?
The main objective should be to maintain the partnership with the IMF by redefining new foundations of trust. The IMF can contribute a lot to Senegal. It is better to maintain a responsible partnership with the IMF. This is at stake for the country's reputation on the financial markets and with other development partners, including many donors.
Commentaires (14)
Cet analyste fait du wakh sa xalaat, les contextes du temps de Senghor et Abdou Diouf ne sont pas comparables et les intérêts économiques et la géopolitique également differents.
Plus d Union Soviétique, la Chine devenue première puissance mondiale, l Inde qui emerge, la Russie puissance mondiale, décadence des économies européennes, les Brics.....
Autant de variables à incorporer dans une analyse juste et pertinente.
Les schémas sont très différents actuellement.
Est ce que ce gars là est sérieux. Ou sont les preuves
Quand tu as 60 ans sachant que statistiquement il te reste 10 ans avant de visiter la tombe mais tu continues à mentir c est que t a
Tu as raison sauf la décadences des économies européenes. Dîtes a un sénégalais de choisir entre la Russie, la France et la Chine on verra bien si elle parlera . Les mots ont un sens
Déficit de la balance de paiement rattaché aux importations. D'où sort-il lui...
Très bonne contribution ! Il faudrait que les membres du gouvernement approche des personnes de ce genre ! Où passé Amadou Lamine Sall de la SFI ! Il ne faut pas se décourager ! Je sais quand on veut bien faire au Sénégal et que l'autre côté il y'a des gens sans conscience qui sèment la gabegie, on finit par croiser les bras ! Mais le vrai patriotisme exorte à travailler sans relâche pour le développement de son pays ! La culture du patriotisme ne doit s'arrêter à un simple slogan politique mais doit émerger en actions concrètes !
J'étais le pisteur mais j'étais pas là-bas quand Macky était au pouvoir sinon.... 😂😂😂 Je veux juste un café et un verre d'eau s'il vous plaît !
Sans des preuves suivis de jugements et de condamnations tout le reste c est du cinéma mais un cìnema qui peut détruire un pays . Aythia rekk. Qui vivra verra
Amel ngen akhe 18 millions de sénégalais avec vos mensonges. Louko fi diar. Tout ça pour de la politique. Pensez vous le J quand les 18 millions de sénégalais se mettront devant toi
Mon gourou m'a dit que ce machin c'était le grand Satan...on m'aurait menti ?....Thiam au secours !!
Thiat au secours...
Dites à Sonko de sortir les preuves de falsifications des chiffres.
Il n'a jamais fourni de preuves des accusations contre Aliou Sall, Mamour Diallo , Mame Mbaye Niang et Adji Sarr.
C'est lui qui bloque l'économie du Sénégal pendant qu'il distribue les fonds politiques haraam à ses avocats et proches.
La seule solution est d'avouer que la dette cachée était un montage pour mettre en mal Macky et son gouvernement avec le peuple.
Fenn bakhoul, soss bakhoul, defay yeugueul HARASS.
Il ne le dira à jamais. Sonko a toujours menti et les sénégalais continuent de le croire donc il continuera à mentir encore et encore
Que dieu nous aide sénégalais sonnagnou
C est une honte qu un soit disant expert parle de dette caché de façon Léger. Encore un politicien engagouler. Je rappelle que c est ce meme FMI qui féliciter le régime de Macky Sall
Le Sénégal je me demande s il reste encore des gens honnêtes. Les gens ont perdu tout espoir en dieu. La politique de pastef a détruit une grande partie de la société sénégalaise. Bon dieu quelqu un peut m expliquer c est quoi dette caché ?
Tant d'hypocrisie au lieu d'accuser Macky Sall tous ont fini par comprendre que le seul coupable dans cette histoire c'est le crétin de Pm qui a voulu faire un buzz comme dans ses habitude qui vaut que notre pays ce retrouve dans une telle situation de catastrophe un être normal ce serait suicider pour avoir mis tout un pays en danger mais comme il n'as pas dignité il préféré se voiler la face et aller quémander alors que la seule solution qui prévaut est sa disparition voulu ou forcé
Je trouve bizarre cette notion de dette cachée que certaines analyses complaisantes ressassent. Cela dit, le FMI sera dans une sacrée situation si les preuves de maquillage ne sont pas fournies. Le FMI est par le fait même taxé de complicité et d'incompétence. Les preuves qu'il réclame serviront à le dédouaner s'il n'a rien à se reprocher.
pourquoi certains sénégalais ont perdu leur honneur et dignité et préfèrent mentir pour faire plaisir au GOUROU MYTHOMANE ET PERVERS SEXUEL
C'est trop long cet article. J'ai au mal à la tête.
Nous Sénégalais, un jour , je l'espère on aura plus à tendre la main ou à justifier quoique ce soit .
On n'a pas encore les bons dirigeants.
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