The International Monetary Fund indicated on Thursday that commissioning a private international audit of Senegal’s payment arrears could be one of several steps to confront the West African nation’s debt situation.
At a press briefing in Washington, IMF spokeswoman Julie Kozack said Senegal has already "conducted successive audits of public debt and there’s been institutional reforms to unify Senegal’s debt management function." She added that, despite those steps, "further decisive action will be needed and important to support progress."
Kozack outlined a set of areas the IMF is examining as part of efforts to advance debt transparency and fiscal control. These include:
- the launch of an audit by a private international firm;
- completing ongoing and comprehensive audit work on payment arrears; and
- measures to strengthen budgetary commitment controls.
The IMF presented these actions as possible components of a broader effort to address payment arrears and to reinforce public financial management, rather than as definitive decisions already taken.
In response to inquiries by email, Senegal’s Finance Ministry said it has not discussed the prospect of an audit by a private international firm with the IMF. The ministry also noted that an audit of payment arrears has already been completed by the Inspectorate General of Finance.
The exchange between the IMF and Senegalese authorities highlights a gap between international recommendations under consideration and the current domestic account of completed work. The IMF’s remarks framed potential next steps - including engagement with private auditors and tighter budgetary controls - as areas for further action, while the finance ministry pointed to existing domestic audit outcomes.
This dialogue underscores the focus on verification and institutional controls as tools to support progress on arrears and public debt management, with a particular emphasis on audit completion and strengthening of commitment controls in the budget process.
Clear summary: The IMF proposed that Senegal could consider a private international audit among steps to address payment arrears, while also urging completion of comprehensive audits and stronger budgetary commitment controls; Senegal’s Finance Ministry said it has not discussed a private international audit with the IMF and that its Inspectorate General of Finance has already completed an audit of payment arrears.