Senegal and the IMF have reached a staff-level agreement on a three-year, $2.2bn
program to resume IMF lending after the fund froze financing two years ago
following discovery of previously undisclosed loans worth billions of dollars.
The agreement requires IMF executive board approval, the IMF said on Tuesday.
Senegal said it will use the revised G20 common framework for debt restructuring
and intends to seek debt treatment to restore debt sustainability. The IMF said:
"The IMF-supported program's main reforms aim to restore the sustainability of
public finances while protecting vulnerable households."
