Senegal Must Clarify $7 Billion Fiscal Gap Before IMF Talks

Senegal’s dollar bonds plunged after the International Monetary Fund said it wants more clarity on a $7 billion fiscal hole discovered under the previous administration before it can discuss a fresh program with the new government.

The Washington-based lender is awaiting “the final audit outcome” following an earlier review, which found that former President Macky Sall’s administration misreported debt and budget deficit data, IMF spokesperson Julie Kozack said Thursday.