The audit shows that Senegal’s debt and deficit are higher than reported by Reuters

DAKAR (Reuters) – Senegal is in talks with the International Monetary Fund (IMF) to take corrective action after an audit found its debt and budget deficit to be much higher than the previous administration had reported, the country’s economy minister said on Thursday.

Abdourahmane Sarr said an audit of Senegal’s finances, ordered by new president Bassirou Diomaye Faye, showed the deficit at the end of 2023 was more than 10 percent, compared to about 5 percent reported by the previous government.

“The authorities we replaced lied to the country and lied to partners, falsifying figures,” Senegal’s Prime Minister Ousmane Sonko said during a government press conference on Thursday.

Faye, who was swept to power in a landslide election victory in April amid public anger against the previous administration of former president Macky Sall, has promised audits into the previous government’s handling of affairs.

Sarr told the news conference that, as a result of the false figures that previous authorities had reported, Faye’s government decided not to submit Senegal’s request for an IMF disbursement in July, following the review of the fund in June.

The fund approved a three-year $1.8 billion credit facility last June, and the West African nation was expected to receive some payments from the facility after the review.

“An examination of Senegal’s file based on false figures would have led to what is known as misreporting to the IMF,” Sarr told the news conference, adding that any IMF payment based on misreporting should be refunded and corrective action should be taken.

“The IMF has been informed and Senegal is in discussions with the IMF regarding corrective measures to be taken either on the current IMF program or on a separate program to be negotiated with the IMF as soon as possible,” he added.

The IMF did not immediately respond to a request for comment.