An IMF spokesperson, in an email Monday, said the two are slated to meet in Washington on Tuesday and will discuss "recent economic developments and Senegal's economic reform program." Senegal's state broadcaster RTS said late Sunday that Faye also plans to sit down with World Bank officials while in the US capital. According to the presidency, he's in Washington on a working trip aimed at deepening the country's economic and financial ties.
Earlier this month, Senegal reached staff-level consensus on an IMF package worth $2.2 billion, which still needs the executive board's sign off. Dakar also plans to seek a restructuring of its obligations through the Group of 20 Common Framework, as it grapples with a total debt load inflated by billions of dollars in previously undisclosed loans.
Speaking last week, the IMF's Julie Kozack said the fund could greenlight a new program for Senegal even before the debt reprofiling process is completed. The presidency added that Faye will travel to Abu Dhabi on Sept. 16 for a trip focused on strengthening bilateral relations and advancing joint economic initiatives with the United Arab Emirates.
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If you're watching emerging markets, this is a reminder that politics and balance sheets can move in tandem. Bigger support from lenders can stabilize a country's finances, but it usually comes with reforms attached - and that can ripple into growth, inflation and, ultimately, how far your money goes.
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