Senegal lawmakers push back against PM Lo over IMF agreement

The International Monetary Fund took centre stage on Tuesday during debates in the Senegalese National Assembly.

Laying out the government’s general policy statement, Prime Minister Ahmadou Al Aminou Mohamed Lo defended the government's recent agreement with the IMF on a three-year aid programme worth $2.2 billion.

"If you cannot do without the IMF, set up a programme with the IMF, because it is the only institution authorised to give an opinion on a country's macroeconomic trajectory and the sustainability of its debt.”

Lawmakers opposed to President Bassirou Diomaye Faye’s Kiiray party and his new deal with the IMF took issue with Lo’s presentation.

"Diomaye and Kiiraay do not represent a sovereign Senegal, but a subjugated Senegal," MP Guy Marius Sagna, of the PASTEF party told the Assembly.

"A Senegal under the control of the IMF. Prime Minister, there have been times when I felt I was not addressing the Prime Minister of Senegal but the chairman of the board of directors representing the interests of the IMF, so often have I heard you speak so highly of the IMF, trying to convince the National Assembly that we should not be afraid of the IMF, which has never developed a single country."

Senegal is facing some $3.5 billion in payment arrears. Lo said the agreement with the IMF will reprofile its debt by extending maturities and renegotiating interest rates. Dakar is also renegotiating around 30 mining contracts.

President Bassirou Diomaye Faye is feuding with his former prime minister and PASTEF party leader Ousmane Sonko - who is now Assembly speaker - over a number of topics, including the IMF programme.