[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109726-en":3,"doc-seo-109726-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109726,1099514067415,"Rowan","https://ap-avatar.wpscdn.com/avatar/100002539d78ffe74a7?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779092875211072502",8,"Research & Report","Senegal - Joint World Bank-IMF Debt Sustainability Analysis - April 2020","Joint World Bank-IMF Debt Sustainability Analysis for Senegal concludes that external and overall debt remains sustainable, with a moderate risk of debt distress under the post-COVID-19 baseline. The country’s shock-absorption space has narrowed versus the January 2020 DSA, while downside risks dominate, including a more severe global and domestic outbreak. Senegal’s debt-carrying capacity is classified as strong, using revised macroeconomic assumptions and updated thresholds.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nSENEGAL  \nJoint World Bank-IMF Debt Sustainability Analysis 1  \nApril 2020  \nPrepared Jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF)  \nApproved by Marcello Estevão (IDA), Annalisa Fedelino and Ana Corbacho (IMF)  \n\n| Senegal: Joint Bank-Fund Debt Sustainability Analysis |  |\n| --- | --- |\n| Risk of external debt distress: | Moderate |\n| Overall risk of debt distress | Moderate |\n| Granularity in the risk rating | Some scope to absorb shocks |\n| Application of judgment | No |\n| Mechanical risk rating under the external DSA | Moderate |\n| Mechanical risk rating under the public DSA | Moderate |\n\nSenegal’s debt is assessed to remain sustainable with a moderate risk of debt distress (external and overall) using the post COVID-19 pandemic scenario as baseline, in line with the previous Debt Sustainability Analysis (DSA) of January 2020. However, the country’s space to absorb shocks—previously deemed limited in the short term—has somewhat narrowed compared to the previous DSA. The macroeconomic framework reflects currently available information. However, risks are heavily tilted to the downside: a more extensive global and domestic COVID-19 outbreak could lead to a much steeper economic decline in 2020 and more gradual recovery thereafter.  \n1 This DSA has been prepared following the revised LIC-DSA framework. It updates the previous JointDSA (IMF Country Report No . 20/11) . Senegal’s debt carrying capacity, calculated based on the April and October 2019 WEOs and the 2018 CPIA, is classified as strong. The applicable thresholds to public and publicly guaranteed external debt are: 55 percent for the PV of debtto-GDP ratio, 240 percent for the PV of debt-to-exports ratio, 21 percent for the debt service-to-exports ratio, and 23 percent for the debt service-to-revenue ratio. The applicable benchmark for the PV of total public debt for strong debt carrying capacity is 70 percent of GDP.  \n1. This DSA updates the joint World Bank-IMF analysis of January 2020 using the post COVID-19 pandemic as baseline. 2 It uses the same debt stocks for 2018 and 2019 as in the previous DSA, with a much-revised macroeconomic environment reflecting the impact of the COVID-19 pandemic as used in the staff report for the 2020 RCF/RFI. Compared with the previous DSA, the pandemic is reflected as a one-time large shock leading to a significant decline in GDP and a widening of the fiscal and current account deficits. GDP is expected to rebound in 2021 as the situation is assumed to normalize in H2 2020.  \n2. The main revisions to the macroeconomic assumptions can be summarized as follows:  \n• The authorities have revised GDP growth in 2019 down to 5.3 percent from 6 percent in the last DSA. For 2020, staff’s preliminary assessment is that growth will decline to 3 percent in 2020 compared to 6.8 percent in the previous DSA. The economy is assumed to gradually recover starting in 2021 with a growth rate of 5.5 percent (7 percent in previous DSA) and remaining high over the medium-term. Over the long run, real GDP growth is projected to converge to about 5.1 percent over 2025-39 as in the last DSA.  \n• The public sector deficit is estimated at about 5 percent of GDP in 2019 compared to 4.7 in the previous DSA and to widen sharply to 6.9 percent of GDP in 2020 owing to revenue losses and additional expenditures to fight the pandemic.  \n• The current account deficit stood at 9.1 percent in 2019 (broadly the same as in the previous DSA) and is projected to widen to 11.3 percent of GDP in 2020 . The negative impact of the crisis on goods and services exports, as well as remittances, is only partly offset by savingson oil imports. Over the long term, the average current account deficit is projected to decline to about 1.5 percent of GDP(slightly higher than the1.2 percent","cbCaifozjuKyfjPQ","https://ap.wps.com/l/cbCaifozjuKyfjPQ","pdf",494103,4,1,14,"English","en",105,"# Risk Assessment and Overall Conclusion\n## External Debt Distress Risk\n## Overall Debt Distress Risk\n# Analytical Framework and Thresholds\n## Debt Carrying Capacity\n## Indicative Thresholds and Benchmarks\n# Macroeconomic Assumptions Revisions\n## Growth, Deficits, and Current Account\n## Long-Term Convergence\n# Financing Mix and COVID-19 Impact\n## Financing Gaps and Instruments\n## Stress Tests and Debt Indicators\n## Key Vulnerabilities and Peaks","[{\"question\":\"What is the overall risk rating for Senegal’s debt distress in this analysis?\",\"answer\":\"The analysis rates both external and overall risk of debt distress as moderate under the post-COVID-19 baseline.\"},{\"question\":\"How does this April 2020 DSA differ from the January 2020 DSA?\",\"answer\":\"It updates the baseline to reflect COVID-19’s one-time large shock, revises macroeconomic assumptions, and uses debt-stock inputs consistent with the previous DSA while reflecting a revised macro environment.\"},{\"question\":\"Which external debt indicator is closest to or exceeds its threshold under the new baseline?\",\"answer\":\"The debt service-to-exports ratio peaks at about 24 percent in 2020, which is noted as a deterioration versus the January DSA, though most indicators remain below thresholds.\"}]","Senegal - Joint World Bank-IMF Debt Sustainability Analysis - April 2020 | PDF",1784482091,35,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"senegal-joint-world-bank-imf-debt-sustainability-analysis-april-2020","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/senegal-joint-world-bank-imf-debt-sustainability-analysis-april-2020/109726/",{"url":53,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-08-04","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What is the overall risk rating for Senegal’s debt distress in this analysis?","Question",{"text":76,"@type":77},"The analysis rates both external and overall risk of debt distress as moderate under the post-COVID-19 baseline.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How does this April 2020 DSA differ from the January 2020 DSA?",{"text":81,"@type":77},"It updates the baseline to reflect COVID-19’s one-time large shock, revises macroeconomic assumptions, and uses debt-stock inputs consistent with the previous DSA while reflecting a revised macro environment.",{"name":83,"@type":74,"acceptedAnswer":84},"Which external debt indicator is closest to or exceeds its threshold under the new baseline?",{"text":85,"@type":77},"The debt service-to-exports ratio peaks at about 24 percent in 2020, which is noted as a deterioration versus the January DSA, though most indicators remain below thresholds.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":137,"doc_module":4,"doc_module_name":47,"category_name":138,"show_sort_weight":107,"slug":139},19,"General","general"]