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IMF expects to discuss new Senegal program later this month, official says - REUTERS
(Reuters) – The International Monetary Fund’s staff expects discussions on a new fund-supported program with Senegal to begin this month, the IMF communications director said on Thursday.
“Our staff is ready to move to the next phase of our engagement, which of course would be program discussions, and we expect to be able to start those discussions during the annual meetings,” Julie Kozack told a scheduled press briefing. Annual meetings of the IMF and World Bank kick off the week after next in Washington.
Bond prices rallied, with the 2028 maturity gaining 2 cents to be bid at 88.80 cents on the dollar. Kozack said the IMF board will meet this Friday to discuss the Senegal situation, including a debt misreporting issue that put an original program on hold and threatened to derail more support.
“We are very appreciative of the time and the energy that the Senegalese authorities have invested in producing these detailed (audit) reports and for granting our staff full access to the findings,” Kozack said.
She added that the IMF was likely to communicate the outcome of its board discussion on Friday, but did not say whether the board would consider or approve the debt misreporting waiver needed for Senegal to secure a new program at the meeting.
