[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110001-en":3,"doc-seo-110001-105":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},110001,13056703020460,"Valentina","https://ap-avatar.wpscdn.com/avatar/be000253dac470eee5d?_k=1778207105932848923",8,"Research & Report","Senegal - Joint World Bank-IMF Debt Sustainability Analysis - January 2021","Joint Debt Sustainability Analysis update for Senegal assesses external and public debt under the current baseline, concluding that Senegal’s debt remains sustainable with a moderate risk of overall debt distress and limited near-term ability to absorb shocks. The assessment links the rating to gradual post-pandemic recovery, continued adherence to a prudent fiscal path consistent with regional convergence criteria, and sound debt management. The outlook remains highly uncertain with material downside risks, stressing concessional borrowing and strengthened debt risk containment.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nSENEGAL  \nJoint World Bank-IMF Debt Sustainability Analysis1  \nJanuary 2021  \nPrepared jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF)  \nApproved by Marcello Estevão (IDA), Annalisa Fedelino and Chad Steinberg (IMF)  \n\n| Senegal: Joint Bank-Fund Debt Sustainability Analysis |  |\n| --- | --- |\n| Risk of external debt distress: | Moderate2 |\n| Overall risk of debt distress | Moderate |\n| Granularity in the risk rating | Limited scope to absorb shocks |\n| Application of judgment | No |\n\nThis Debt Sustainability Analysis (DSA) update indicates that Senegal’s debt remains sustainable with a moderate risk of overall debt distress (external and public) under the current baseline, with limited scope to absorb shocks in the near term. This is in line with the previous DSA update of April 2020 that accompanied Senegal’s RCF/RFI request. The moderate risk of debt distress is predicated on a gradual recovery from the pandemic-induced economic shock, continued adherence to a prudent fiscal path (in line with regional convergence criteria), and sound debt management. The outlook for Senegal remains highly uncertain and subject to significant downside risks, primarily a reflection of broader global risks related to the COVID-19 pandemic. A prudent borrowing strategy that prioritizes concessional external borrowing and domestic regional financing in line with programmed financing needs, combined with continued efforts to strengthen debt management and contain fiscal risks, will be the anchor for continued debt sustainability.  \n1 This DSA was prepared jointly with the World Bank and in collaboration with the Senegalese authorities.  \n2 Senegal’s debt carrying capacity is classified as strong (calculated based on the October 2020 WEO) . The applicable thresholds to public and publicly guaranteed external debt are: 55 percent for the PV of debt-to-GDP ratio, 240 percent for the PV of debt-toexports 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.  \nDEBT COVERAGE  \n1. This DSA uses a broad definition of public debt. As in the previous assessment, this DSA captures (i) the central government, (ii) para-public entities, and (iii) state-owned enterprises (SOEs), combining data provided by the authorities with information compiled by IMF technical assistance.3  \n\n| Text Table 1. Senegal: Public Debt Coverage and Design of Contingent Liability Test\u003Cbr>Subsectors of the public sector Sub-sectors covered 1 Central government X 2 State and local government X 3 Other elements in the general government 4 o/w: Social security fund 5 o/w: Extra budgetary funds (EBFs) X 6 Guarantees (to other entities in the public and private sector, including to SOEs) X 7 Central bank (borrowed on behalf of the government) X 8 Non-guaranteed SOE debt X |\n| --- |\n| 1 The country's coverage of public debt The central, state, and local governments plus extra budgetary funds, central bank, government-guaranteed debt, non-guaranteed SOE debt Default Used for the\u003Cbr>analysis Reasons for deviations from the default settings 2\u003Cbr>3\u003Cbr>4\u003Cbr>5 Other elements of the general government not captured in 1. 0 percent of GDP 0.0 PPP capital stock of 6 percetn of GDP is larger than 3 percent threshold SoE's debt (guaranteed and not guaranteed by the government) 1/ 2 percent of GDP 0.0 PPP 35 percent of PPP stock 2.1 Financial market (the default value of 5 percent of GDP is the minimum value)\u003Cbr>Total (2+3+4+5) (in percent of GDP) 5 percent of GDP 5.0 7.1 |\n| 1/ The default shock of 2% of GDP will be triggered for countries whose government-guaranteed debt is not fully captured under the country's public debt definition (1 ","cbCaiaWTZjesvnn3","https://ap.wps.com/l/cbCaiaWTZjesvnn3","pdf",452531,4,1,15,"English","en",105,"# Risk of debt distress\n## External debt distress\n## Overall risk and judgment application\n# Debt coverage\n## Public debt definition and subsectors covered\n## Contingent liability test coverage notes\n# Baseline scenario\n## COVID-19 assumptions and macroeconomic update\n## Key projections and fiscal deficit revisions","[{\"question\":\"What is Senegal’s overall risk of debt distress in this analysis?\",\"answer\":\"The analysis rates the overall risk of debt distress as Moderate.\"},{\"question\":\"What does “limited scope to absorb shocks” mean in the report?\",\"answer\":\"It indicates limited near-term capacity to withstand shocks, which is reflected in the risk rating assessment.\"},{\"question\":\"Which factors support the conclusion that Senegal’s debt remains sustainable?\",\"answer\":\"Gradual recovery from the pandemic shock, continued prudent fiscal policy, and sound debt management underpin the sustainability conclusion.\"}]","Senegal - Joint World Bank-IMF Debt Sustainability Analysis - January 2021 | PDF",1784483404,38,{"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-january-2021","",{"@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-january-2021/110001/",{"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","2026-07-30","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 Senegal’s overall risk of debt distress in this analysis?","Question",{"text":76,"@type":77},"The analysis rates the overall risk of debt distress as Moderate.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"What does “limited scope to absorb shocks” mean in the report?",{"text":81,"@type":77},"It indicates limited near-term capacity to withstand shocks, which is reflected in the risk rating assessment.",{"name":83,"@type":74,"acceptedAnswer":84},"Which factors support the conclusion that Senegal’s debt remains sustainable?",{"text":85,"@type":77},"Gradual recovery from the pandemic shock, continued prudent fiscal policy, and sound debt management underpin the sustainability conclusion.","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"]