DAKAR, June 23 (Xinhua) -- Senegal's economy has shown resilience despite a difficult external environment, with real gross domestic product (GDP) growth reaching 6.7 percent in 2025, the International Monetary Fund (IMF) has said.
In a statement released on Monday, the IMF said a staff team led by Mercedes Vera Martin, mission chief for Senegal, visited Dakar from June 15 to 19 to assess recent macroeconomic developments and prospects, and to discuss the country's economic challenges, financing needs and reform priorities with the Senegalese authorities.
"The IMF team held open and constructive technical discussions with the Senegalese authorities," Vera Martin said at the conclusion of the visit.
According to the IMF, Senegal's growth in 2025 was mainly supported by a strong expansion of the hydrocarbon sector. The country's current account deficit also narrowed significantly, driven by higher oil exports and lower imports.
The IMF also noted an improvement in Senegal's fiscal position. The overall fiscal deficit fell from 13.4 percent of GDP in 2024 to 6.4 percent in 2025, mainly due to spending rationalization.
"Senegal's economy has shown resilience, although it is facing a challenging economic situation amid a difficult global environment," Vera Martin said.
However, the IMF warned that fiscal vulnerabilities and debt-related risks remain elevated, and that the near-term outlook is subject to significant downside risks. Higher global oil prices since the start of the war in the Middle East earlier this year are expected to put additional pressure on Senegal's public finances this year, given the budgetary cost of untargeted subsidies, it said.
Senegalese authorities reiterated their interest in a new IMF-supported program, while IMF staff said discussions would continue on reform priorities that could be backed under a possible agreement, including fiscal consolidation, reducing debt vulnerabilities, strengthening debt management, improving public governance, and promoting inclusive and sustainable growth.
Senegal disclosed in 2024 that past public debt and fiscal data had been misreported, affecting its cooperation with the IMF. Since then, the country has been seeking a new arrangement with the institution to help stabilize its macroeconomic situation and ease financing pressure. ■
