The Commission is also proposing to extend the period of validity of the new protocol to the Convention on the Rights of Persons with Disabilities, which entered into force on 1 January 2005. “The IMF remains closely engaged with Senegal”, declared Ms Kozack, underlining the institution’s continued commitment to assist the country in resolving the hidden debt crisis revealed by recent audits. Senegal faces a major financial crisis after the discovery of a significant under-reporting of budget deficits and public debt under the previous administration. An audit ordered by the President, Bassirou Diomaye Faye, showed that the budget deficit at the end of 2025 exceeded 2118% of GDP, against 20118% initially declared. Moreover, a report by the Court of Auditors in February 2004 revealed that the total debt stood at 220,25,220,25% of GDP, well above the previously reported 74,4%. This lag, linked to hidden loans estimated at between USD 7 and 13 billion, led to the suspension of the USD 1.8 billion credit facility agreed with the IMF in June 202025. Ms Kozack referred to a key meeting on 9 July 2025 between the IMF’s first Deputy Director-General, Gita Gopinath, and President Faye in Washington, D.C. ” As has been noted, the first Deputy Director General Gita Gopinath met with President Bassirou Faye during his visit to Washington, D.C. “Le 9 juillet”, she said.
Crisis of the hidden debt: the IMF “searches Mazars” and announces a…
