By Emmanuel Tumanjong
Special to Dow Jones Newswires
The International Monetary Fund has lent Senegal $216 million to buttress the West African nation's macroeconomic development, its government said Wednesday.
It said the IMF made the decision on Monday to support and strengthen the country's macroeconomic stability, the private sector, and transparency and management of oil-and-gas resources.
"Inflation has accelerated, fueled by soaring food prices, and food insecurity has increased," Kenji Okamura, IMF deputy managing director said "While the challenging external and domestic environments will continue to weigh on the economy in the near term, medium-term macroeconomic prospects appear more favorable with oil and gas production set to start in late 2023 and provided appropriate policies are pursued," he added.
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(END) Dow Jones Newswires
01-12-23 0654ET
