DAKAR (Reuters) -Senegal’s Prime Minister Ousmane Sonko on Friday announced a new economic recovery plan, pledging to finance 90% of the initiative through domestic resources and avoid additional debt.
The plan, aimed at stabilizing the finances of the West African nation which began producing oil and gas last year, comes as Senegal faces financial challenges and scrutiny over debt misreporting.
Senegal is grappling with billions of dollars in hidden debts from the previous administration, which led to the International Monetary Fund (IMF) freezing its loan programme.
“We will only seek external partners for the asset recycling portion,” Sonko said during the plan’s presentation in Dakar, emphasizing the reliance on domestic resource mobilization for the majority of funding.
(Reporting by Anait Miridzhanian and Ayen Deng BiorEditing by Bate Felix and Robbie Corey-Boulet)
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