📖𝐏𝐀𝐏𝐄𝐑: Breaking adjustment cycle in Africa: Senegal under IMF debt restructuring & independent parliamentary oversight
⬇️Download:
go.networkideas.org/4xF2Ltp
✍🏻Author:
@YassineFall, Senegalese economist + former minister of
@diplomatieSN &
@MinjustSn
📄Overview: On 1 Sep 2026,
@IMFNews & Senegalese authorities announced staff-level agreement on new Extended Credit Facility of approximately $2.2 billion over 36 months, designed to support 2026–2029 economic & financial reform programme. This agreement comes after nearly 2 years of suspension of previous IMF programmes, triggered by discovery in 2024 of concealed debt equivalent to approximately 25% of GDP under
@Macky_Sall administration — bringing recognised public debt to over 130% of GDP, one of highest ratios on continent.
This paper offers tripartite reading. First, it situates Sep 2026 restructuring agreement within continuity of well-documented orthodox adjustment grammar — fiscal consolidation, accounting sustainability, governance conditionality — whose history reveals structural limitations for dependent, commodity-exporting economies. Second, it integrates parliamentary dimension analyzing substantive divergence between 2 divergent policy approaches, Programme de Restructuration Èconomique et Sociale entitled “Jubbanti Koom” (PRES ), spearheaded by then Prime Minister
@SonkoOfficiel in Aug 2025 as response to budgetary constraints generated by hidden debt & DPG presented by Prime Minister
@alaminoulo on 8 Sep 2026. Third, it situates Senegalese experience within broader historical & empirical record of structural adjustment in Africa & developing world — a record whose failures constitute necessary context for evaluating current programme.