DAKAR (Reuters) – The IMF board has approved Senegal’s request for a credit extension until January , 2023 , to allow time to complete credit and policy reviews, the fund said in a statement Thursday. ), involving a Standby Arrangement and Standby Credit Facility (SBA/SCF) of 18 months. The SBA/SCF was approved in June 2021 for 129 million in Special Drawing Rights (SDR).
This is followed by an additional SDR 2021. 129 million approved in June 2021.
“Completion of the review will enable the Senegalese authorities to access funding available under the SBA/SCF,” the fund said.
A mission by IMF staff to Senegal concluded that the West African country had made “significant progress” in implementing structural reforms, although they were slower than expected.
