(Washington) The Board of Directors of the International Monetary Fund (IMF) announced on Wednesday that it had disbursed nearly 216 million dollars for Senegal following audits of aid programs.
Posted at 6:31 p.m.
“The completion of the audits allows the immediate release of approximately $215.78 million,” the institution said in a statement.
In addition, the board approved an increase in aid to the country.
“As a result, full access under the agreements […] of 18 months approved in June 2021 has been increased by approximately $172.6 million, from approximately $650 million, at the time of approval, to approximately $776.67 million,” the Fund said. .
“The soaring world prices of fuel and foodstuffs, aggravated by the war in Ukraine and, to a lesser extent, the freezing of trade with Mali […] disrupt post-pandemic recovery,” the institution commented.
The IMF has revised down its 2022 growth forecast for the country to around 5% while inflation is expected to hit 5.5%, driven by rising food and energy prices.