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IMF Completes Seventh PSI Review for Senegal

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DAKAR — The Executive Board of the International Monetary Fund (IMF) completed today the seventh review of Senegal’s economic performance under the program supported by the Policy Support Instrument (PSI).

The Board’s decision was taken on a lapse of time basis.

The PSI was approved by the Executive Board on December 3, 2010. The IMF’s framework for PSIs is designed for low-income countries that may not need, or want, IMF financial assistance, but still seek IMF advice, monitoring and endorsement of their policies. PSIs are voluntary and demand driven.

GDP growth was lower than expected in 2013, with a preliminary estimate by the authorities of 3.5 percent, reflecting lower agricultural production and temporary problems in the industrial sector and mining. In contrast, activity in the telecommunications and construction sectors was buoyant. Inflation declined to 0.7 percent on average owing to softer agricultural commodity prices in international markets. Growth is projected to increase to 4.9 percent in 2014, because of stronger activity in agriculture, mining, and industry. Inflation would remain subdued.

Program implementation has been mixed. All quantitative assessment criteria and all but one indicative targets for end-2013 were met, including on the budget deficit despite a significant revenue shortfall. However, structural reform implementation has been slow, with a number of benchmarks met after their respective deadlines.

The authorities’ intention to continue reducing the fiscal deficit from 5.5 percent of GDP in 2013 to 5.1 percent in 2014 is welcome. Strong efforts will be needed on the revenue side to offset part of the 2013 revenue shortfalls. The recent review of current and capital expenditures, with a view to identifying less productive spending to be streamlined, is welcome and a step towards increasing the efficiency of public spending and aligning the budget with the priorities of the new growth strategy. Efforts should be made to improve fiscal transparency and make fiscal accounts more meaningful. From this perspective, it is highly desirable to accelerate the implementation of the WAEMU directives on public financial management and of the plan to reform public agencies, which was approved in late 2013. The authorities’ commitment to improve transparency by being more explicit about the cost of certain transfers and subsidies, including those in favor of the energy sector, and by reporting on the implementation of the reform of public agencies is welcome.

The authorities’ new growth strategy—the Plan Sénégal Emergent— offers a good diagnostic and a vision for Senegal. Ownership of the plan at the highest level and strong support from the international community should facilitate implementation. The renewed strong commitment to preserving fiscal sustainability is welcome. In light of the poor productivity performance in recent years, the focus should be on raising economic efficiency more than increasing the volume of investment. Accelerating reforms to improve the business environment and a deep reform of the state are critical for this purpose. Reforming the state would also help create the fiscal space needed to raise public investment without jeopardizing debt sustainability.

The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.

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Ex-IGP Usman Alkali Baba Joins Yobe Governorship Race, Vows to End Insurgency

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Former Inspector General of Police, Usman Alkali Baba, has formally declared his intention to contest the 2027 governorship election in Yobe State, promising to tackle insecurity and rebuild the state’s economy.
In a statement released Tuesday following a consultation meeting in the state, the retired police chief said his ambition is driven by a desire to restore peace, strengthen institutions, and accelerate development across all sectors.
Alkali pledged to “wipe out insurgency” and revive economic activities disrupted by years of insecurity, noting that his administration would prioritise intelligence-driven security and community partnerships.
“My vision for Yobe State is clear. I want a state where security is strengthened through intelligence and community partnership. I want a state where farmers can return to their farms with confidence, traders can move freely, and children can go to school without fear,” he said.
The former police boss emphasised his experience in national security management, stating that his years in public service have equipped him with the discipline and strategic thinking needed to govern effectively.
According to him, Yobe State requires leadership that understands security, institutional coordination, and human development, adding that insecurity has significantly hindered growth and deepened poverty in the region.
He also outlined plans to boost agriculture, expand infrastructure, and invest in education and youth empowerment. Alkali promised to provide microcredit support for women and equip young people with technical skills and startup kits to drive commerce and industry.
On healthcare, he pledged to combat child-killer diseases, including polio, and introduce free maternal healthcare services, as well as free medical care for children aged zero to five.
“Mothers will not die during childbirth, and children will live and thrive. They will go to school and graduate in a safe and secure environment,” he assured.
Alkali further stated that his administration would focus on inclusive governance, ensuring development reaches all local government areas without discrimination.
While expressing readiness to build on the achievements of the current administration, he maintained that governance must go beyond rhetoric and propaganda, stressing that it requires “vision, action, and the courage to make tough decisions.”

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Bayern Won’t Sell Olise Even for €200m — Rummenigge Drops Bombshell

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Bayern Munich have made a strong statement over the future of winger Michael Olise, with Vice-President Karl-Heinz Rummenigge insisting the club would reject even a €200 million offer for the player.

The comments, reported by transfer expert Fabrizio Romano on Monday, highlight Bayern’s long-standing policy of prioritising sporting stability over financial gain.

SEE ALSO: BREAKING: Chelsea Hit With £10.75m Fine, Transfer Ban

Rummenigge explained that the club’s position is rooted in a historic decision made in 2009, when Bayern received a massive bid from Chelsea for Franck Ribéry.

After internal discussions involving then CFO Karl Hopfner and former president Uli Hoeneß, the club chose to reject the offer — a decision that shaped its modern transfer philosophy.

According to him, that principle remains unchanged today.

He stressed that Bayern do not consider selling players who are essential to the team, adding that even a record-breaking €200 million bid would not change their stance on Olise.

The statement is expected to fuel further transfer speculation across Europe, but Bayern officials maintain that Olise is a key part of their long-term sporting project and not for sale.

Bayern Munich continue to uphold their “untouchable players” policy, while Michael Olise remains central to their squad plans.

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AFCON 2025 Drama: Morocco Defends CAF Ruling Amid Growing Controversy

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The Fédération Royale Marocaine de Football (FRMF) has defended its position following the controversial ruling by the Confederation of African Football Appeal Board over the disputed 2025 Africa Cup of Nations final.

In a statement issued on Wednesday, the Moroccan football authority said its appeal was strictly aimed at ensuring the proper application of competition rules, and not to question the sporting merit or performance of any team involved in the final.

The federation emphasized its commitment to fairness, transparency, and the stability of African football competitions, noting that its actions were guided by respect for established regulations.

ALSO READ: JUST IN: Senegal Stuns Hosts Morocco To Lift AFCON 2025 Trophy

“The Federation reiterates that its approach has always been grounded in respect for the rules and stability of African competitions,” the statement read.

FRMF also praised all participating nations in the tournament, describing the 2025 AFCON as a significant milestone in the growth and development of football across the continent.

However, the body revealed that a more detailed position would be made public after a scheduled meeting of its governing organs.

The statement is expected to further clarify Morocco’s stance and outline any possible legal or administrative steps moving forward.

The CAF Appeal Board’s decision has continued to generate widespread reactions among football stakeholders, with growing calls for clearer regulations, improved transparency, and consistency in the administration of African football.

 

 

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