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Debt ratio: Senegal is within the standards according to Cheikh Tidiane Diop

17/08/2021
Categories: Economy/Forex

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The Director General of Public Accounting and Treasury, under the supervision of Senegal's Ministry of Finance and Budget, Cheikh Tidiane Diop, maintained that his country had a debt ratio "around 62%" of its gross domestic product. (GDP). The community standard is 70% of GDP.

“We are within the norms, as far as Senegal's external debt is concerned. The community standard is 70% of GDP. Senegal, today, is around 62%,” said Cheikh Tidiane Diop on the sidelines of the celebration of the 2021 edition of Labor Day. In fact, the public debt corresponds to all the financial commitments made in the form of loans by the State, the public authorities and the organizations which depend directly on them. The WAEMU Commission monitors the public finance activities of its member states, which are reported on every six months. In the "Half-year report on the implementation of multilateral surveillance" published in December 2020, concerning Senegal, we can read: "The ratio of the outstanding domestic and external debt to GDP would be 43.6% in 2020 compared to 41.7% in 2019”.

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