IMF Predicts Lower Growth, Bigger Current Account Deficit for Debt-Laden Senegal
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The International Monetary Fund cut Senegal’s 2026 growth forecast to 2.2% from 3.0%, well below the Sub-Saharan African regional average of 4.3%, according to its latest World Economic Outlook report published during the IMF-World Bank Spring Meetings. It also expects Senegal’s economy to grow by 2.3% in 2027.
The Fund raised its estimate for Senegal’s current account deficit to 6.2% of GDP in 2026, from 5.4% previously, before narrowing slightly to 5.8% in 2027. It said the wider deficit reflects a stronger reliance on foreign capital to fund consumption and investment.
Inflation projections for 2026 were also lifted to 2.6% from 2.0%, adding to pressure on an economy already struggling under a large debt burden. Senegal’s undisclosed debt stock, now estimated at $13 billion, previously led the IMF to suspend a $1.8 billion loan programme in 2024.
The country has been in talks with the Fund on a new financing programme for some time. The IMF report comes as Senegal remains in focus at the Spring Meetings, with policymakers under pressure to restore fiscal credibility and secure external support.
