Senegal

IMF Executive Board Concludes 2010 Article IV Consultation with Senegal

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Public Information Notice (PIN) No. 10/65
May 26, 2010

On May 24, 2010 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Senegal.1

Background

Following the food and fuel price shocks in 2008, economic activity slowed further in 2009 because of the global economic downturn and domestic shocks, including temporary electricity shortages.

IMF Completes Third and Final Review Under Senegal’s ESF Arrangement

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Approves US$47.7 Million Disbursement and Completes Fifth Review Under PSI

Press Release No. 10/212

May 24, 2010 -- The Executive Board of the International Monetary Fund (IMF) completed the third and final review of Senegal’s performance under an economic program supported by an Exogenous Shock Facility (ESF) arrangement. The approval enables Senegal to draw the remaining amount equivalent to SDR 32.36 million (about US$47.7 million), bringing total disbursements under the ESF arrangement to SDR 121.35 million (about US$178.8 million). The Executive Board also approved waivers for the nonobservance of the performance criteria on the basic fiscal balance and nonconcessional external debt.

UN agency expands credit farming scheme in West Africa

12 April 2010 – The United Nations Food and Agriculture Organization (FAO) said today that its credit-based farming project in Niger has been so successful that the agency plans to scale it up and expand into Burkina Faso, Mali and Senegal, which are also suffering food shortages.

“It shows that growing more food is not the only way of increasing poor farmers’ food security. Simple, storage-based credit systems can also play an important role in improving their livelihoods,” said FAO rural finance expert Ake Olofsson in a statement released today.

West African farmers receive boost from UN organic food exporting initiative

9 March 2010 – Some 5,000 West African farmers are reaping the rewards from a United Nations scheme aimed at helping them export produce to the growing organic food market in the industrialized world.

The $2.4 million UN Food and Agricultural Organization (FAO) project has helped farmers in Burkina Faso, Cameroon, Ghana, Senegal and Sierra Leone to meet the necessary certification and adapt to the required methods to grow and sell organic products, according to a FAO news release issued today.

FAO noted that the organic and fair trade market in developed countries is expected to grow by about five to 10 per cent per year over the next three years, offering new opportunities for smallholder farmers in poor countries.

Support for Increased Access to Sustainable Water and Sanitation Services in Senegal

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Press Release No:2010/265/AFR

Contacts
In Dakar:
Mademba Ndiaye
(+221) 33 859 4100
mademba@worldbank.org

In Washington:
Francois Gouahinga
(202) 473 0696
fgouahinga@worldbank.org

WASHINGTON, February 2010 - The World Bank’s Board of Executive Directors approved a US$55 million credit to contribute to increased access to sustainable water and sanitation services in selected rural and urban areas of Senegal within the next five years.

Republic of Senegal – Water and Sanitation Millennium Project

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WASHINGTON, February 16, 2010 - The World Bank’s Board of Executive Directors today approved the following project:

IDA Credit: US$55 million equivalent
Terms: Maturity = 40 years; Grace Period = 10 years
Project ID: P109986

Summit of the World Regions on Food Security

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01/18/2010 00:00
01/20/2010 00:00
Indian/Antananarivo

Location: Dakar, Senegal

  1. On the basis of actual experiences, highlight the added value of the Regions in tackling hunger;
  2. Develop cooperation activities between Regions from the North and Regions from the South and Financial Backers;
  3. Provide recommendations to boost effective and innovative regional actions in the field of food security;
  4. Make the voice of the Regions heard to promote their integration on the international stage

Hosted by the President of Senegal & organized by the Forum of Global Associations of Regions and the Conference of Peripheral Maritime Regions; in partnership with FAO, UNDP, French Min of Foreign& European Affairs, French Min of Agriculture & Fisheries & the EC

More information:
www.regionsfoodsummit.org

Date: 
Monday, January 18, 2010 - Wednesday, January 20, 2010

Improved Ways to Prevent the Desert Locust in Mauritania and the Sahel

NOUAKCHOTT, January 7, 2009—It is early December 2009 and team members at the National Center for Locust Control are clapping their hands in delight. They have been able to control at a very early stage a major locust outbreak that could have affected food security in Africa’s Sahel region and the livelihood of its vulnerable communities.

“After years of hard work, the CNLA has finally reached the level of preparedness needed to successfully control locust emergencies and prevent the situation from worsening,” said Amadou Oumar Ba, the World Bank’s task team leader on the Africa Emergency Locust Project in Mauritania.

IMF Completes Second Review Under Senegal’s ESF Arrangement, Approves US$51 Million Disbursement and Completes Fourth Review of PSI

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Press Release No. 09/462
December 16, 2009

The Executive Board of the International Monetary Fund (IMF) completed the second review of Senegal’s performance under an economic program supported by an Exogenous Shock Facility (ESF) arrangement. The approval enables Senegal to draw an amount equivalent to SDR 32.36 million (about US$51 million), bringing total disbursements under the ESF arrangement to SDR 88.99 million (about US$141 million). The Board's decision was taken on a lapse of time basis.1

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