Senegal: Ousmane Sonko to present his economic recovery plan on August 1, ahead of the IMF mission
Senegalese Prime Minister Ousmane Sonko is set to unveil an economic recovery plan on August 1, 2025, amid growing budgetary uncertainty and the upcoming visit of a critical International Monetary Fund (IMF) mission to Dakar. This announcement comes as the country grapples with a confidence crisis triggered by the discovery of a hidden debt estimated at $11.3 billion, according to a report by the Court of Auditors covering the period from 2019 to March 2024.
Ousmane Sonko stated that the plan, which has been in preparation for several months, will be presented to the Senegalese people to outline the government’s economic priorities, budgetary streamlining measures, and planned reforms. A key objective is to compel the state to reduce its spending and clarify its relationship with international partners—first and foremost, the IMF.
The Bretton Woods institution has suspended disbursements since the political transition in March 2024, pending assurances of greater transparency in public finances. An IMF mission is expected in Dakar at the end of August to review the corrective measures under consideration and lay the groundwork for a potential new support program. The Fund confirmed it has received a preliminary inventory of public debt, compiled by the consulting firm Forvis Mazars at the request of the Senegalese government. Final validation of the report is underway.
In a recent statement, Julie Kozack, Director of the IMF’s Communications Department, noted that discussions will also focus on the structural reforms needed to prevent a recurrence of such financial misreporting.
The Senegalese government, for its part, continues to express a firm commitment to transparency and good governance. This stance was reaffirmed during a meeting in Washington earlier in July between President Bassirou Diomaye Faye and IMF Deputy Managing Director Gita Gopinath. The presentation of the recovery plan is thus seen as a crucial step toward restoring trust, revitalizing the national economy, and reassuring international donors.
