International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday that she was optimistic that Senegal would be able to renegotiate its debts, and that would demonstrate that improvements to the G20 debt treatment framework are working.
She told a briefing at IMF and World Bank annual meetings that the IMF would support Senegal with a staff-negotiated agreement for a $2.2-billion programme, but the debt treatment was being worked out between Senegal and its creditors.
"I can tell you that my conversations with key creditors indicate everybody understands this is the test case to the playbook we have adopted through the Global Sovereign Debt Roundtable," she said.
"It is very important that we demonstrate that yes, indeed, the G20 common framework is improved, enhanced, and it can deliver results quickly. Senegal deserves it."
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