The BCEAO praised Senegal’s transparency after a report from the Court of Accounts noted a public debt of 99.67% of GDP and a budget deficit of 12.3%. Governor Jean-Claude Kassi Brou emphasized the government’s openness and its commitment to reforms. He also assured that regional financial stability would not be threatened by upcoming elections in Côte d’Ivoire, maintaining an optimistic outlook for Senegal’s economic future.
The Central Bank of West African States (BCEAO) has expressed approval of Senegal’s transparency following a recent report from the nation’s Court of Accounts. During a press conference in Dakar, BCEAO Governor Jean-Claude Kassi Brou commended the Senegalese government’s openness regarding the economic challenges highlighted in the report.
The report indicated that Senegal’s public debt has surged to 99.67% of its GDP, alongside a budget deficit of 12.3%. Despite these troubling figures, Governor Brou noted the proactive manner in which the government has communicated these issues. He asserted, “The authorities have ensured complete transparency so that everyone is aware of the evaluation that has been conducted.”
Emphasis was placed on the government’s dedication to implementing necessary reforms to rectify economic shortcomings. Brou mentioned, “The authorities have committed to moving forward with reforms to correct what has not worked well,” underscoring that the BCEAO is prepared to provide essential support based on these figures.
The principle of monetary solidarity within the West African Economic and Monetary Union (UEMOA) was also highlighted, as Brou explained that member states collaborate to stabilize the region when one country encounters difficulties. He also addressed the upcoming presidential elections in Côte d’Ivoire, expressing confidence that they would not adversely affect regional stability.
Despite the alarming economic indicators, the BCEAO maintains an optimistic outlook regarding Senegal’s potential to navigate these challenges. The bank’s ongoing commitment exemplifies its mission to ensure financial stability within its member states and across the region.
The BCEAO has lauded Senegal for its transparency in economic reporting while acknowledging the serious issues highlighted by the Court of Accounts. The commitment of Senegal to implement reforms, along with the BCEAO’s support, reflects a unified effort towards financial stability within the region. The central bank remains optimistic about Senegal’s future, citing its significance in overcoming economic challenges through collaboration and transparency.
Original Source: www.senenews.com
