Washington, DC: On November 15, 2022, the Executive Board of the International Monetary Fund approved the Senegalese authorities’ request for an extension until January 10, 2023, of the country’s Stand-By Arrangement (SBA) and Arrangement Under the Standby Credit Facility (SCF) to allow additional time to complete the last SBA/SCF reviews concurrently with the last review under Senegal’s Policy Coordination Instrument (PCI). Completion of the reviews will enable the Senegalese authorities to have access to funds available under the SBA/SCF.
The 18-month SBA/SCF for Senegal was approved on June 7, 2021, with access of SDR 453 million (140 percent of quota) (SeePress Release no 21/159); it was followed by an augmentation of access of SDR 129.44 million (40 percent of quota), approved on June 22, 2022. The three-year PCI was approved on January 10, 2020 (See PressRelease no 20/6).
The Board’s decision was taken without a formal Board discussion.[1]
[1]The Executive Board takes some decisions without a meeting when it is agreed by its members that a proposal can be considered without convening formal discussions.