The BCEAO commended Senegal for its transparency in a report from the Court of Accounts, noting public debt levels and budget deficit figures. Governor Jean-Claude Kassi Brou emphasized the government’s commitment to reforms and the BCEAO’s supportive role in economic stability within UEMOA. Despite challenges, optimism remains for Senegal’s recovery.
The Central Bank of West African States (BCEAO) has expressed appreciation for Senegal’s transparency following a recent report from the Court of Accounts. During a press briefing in Dakar, BCEAO Governor Jean-Claude Kassi Brou discussed the implications of the findings for Senegal’s economy, noting the importance of the government’s candidness regarding public debt and budget deficit figures.
The Court of Accounts report indicated that Senegal’s public debt stands at 99.67% of GDP with a budget deficit of 12.3%. While these statistics are concerning, Governor Brou commended the authorities for their transparency in sharing this data. He emphasized, “The authorities have ensured complete transparency so that everyone is aware of the evaluation that has been conducted.”
Moreover, Governor Brou acknowledged Senegal’s dedication to implementing necessary reforms aimed at addressing these economic challenges. He stated, “The authorities have committed to moving forward with reforms to correct what has not worked well.” He reiterated the BCEAO’s role in supporting member states through economic analyses based on shared data.
Brou further highlighted the concept of monetary solidarity within the West African Economic and Monetary Union (UEMOA), stating that when one member state encounters difficulties, supportive measures are coordinated by other members to maintain regional stability. He also addressed the upcoming presidential elections in Côte d’Ivoire, asserting that they are unlikely to jeopardize the Union’s economic stability.
In spite of the challenging economic indicators, the BCEAO maintains a positive outlook regarding Senegal’s potential for recovery through effective reforms, emphasizing its commitment to enhancing financial stability throughout the region.
In summary, the BCEAO has lauded Senegal for its transparency concerning economic data, asserting that such openness is vital for effective governance. Governor Jean-Claude Kassi Brou reinforced the bank’s support for Senegal’s reform efforts and highlighted the collective strength of UEMOA in promoting regional stability. Despite current economic challenges, the BCEAO remains optimistic about Senegal’s path forward.
Original Source: www.senenews.com
