00:00Encouraging words for Senegal.
00:03The International Monetary Fund has commented positively on Senegal's efforts to strengthen
00:07its economy.
00:09The country has been working with the IMF to amend its debt position after the current
00:13government uncovered that the previous administration had hidden $13 billion of debt.
00:19What I can also share is that an IMF staff team will visit Dakar.
00:27The mission is tentatively planned for later in August.
00:32The purpose of the mission is going to be to discuss the steps needed to bring the misreporting
00:38case to our executive board.
00:42And we will also use the opportunity, the team will also use the opportunity to initiate
00:48discussions on the contours of a new IMF-supported program for Senegal.
00:57We're also working closely with the authorities to design the corrective actions aimed at addressing
01:04the root causes of the misreporting and of course to strengthen capacity development in Senegal.
01:13Senegal's economy has been rattled by the discovery of the underreported debt, which led to credit
01:18ratings agencies lowering the country's rating in recent weeks.
01:23Senegal is now attempting to resolve the situation and put in place a recovery plan.
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