The BCEAO praised Senegal’s transparency regarding its economic situation in response to a Court of Accounts report detailing high public debt and budget deficit. Governor Jean-Claude Kassi Brou emphasized the government’s commitment to reforms, the principle of monetary solidarity among UEMOA members, and his confidence in the stability of the region despite challenges.
The Central Bank of West African States (BCEAO) has expressed appreciation for the transparency demonstrated by the Senegalese government, following the recent findings from the Court of Accounts. During a press briefing in Dakar, Jean-Claude Kassi Brou, the BCEAO Governor, discussed the implications of the report, highlighting Senegal’s economic situation amid elevated public debt and budget deficits.
According to the report, Senegal’s public debt has climbed to 99.67% of GDP, alongside a budget deficit of 12.3%. While these figures raise concerns, Governor Brou commended the government’s transparency regarding these developments. He stated, “The authorities have ensured complete transparency so that everyone is aware of the evaluation that has been conducted.”
Brou also indicated that the BCEAO considers these financial metrics in its economic analysis, ensuring optimal support for Senegal. Emphasizing reform commitment, he noted, “The authorities have committed to moving forward with reforms to correct what has not worked well.” Furthermore, he reiterated the BCEAO’s role in supporting all member states through cooperation and financial stability initiatives.
The Governor advocated for monetary solidarity within the West African Economic and Monetary Union (UEMOA), explaining that during challenging times, member nations extend support to maintain regional stability. Additionally, he addressed the upcoming presidential election in Côte d’Ivoire, conveying assurance that it poses minimal risk to the economic environment of the Union.
Despite current economic challenges, the BCEAO remains confident in Senegal’s potential to navigate these issues effectively through diligent reforms and institutional assistance. The central bank’s ongoing commitment underscores its mission to foster financial stability throughout the region.
In conclusion, the BCEAO’s commendation of Senegal’s transparency highlights the importance of open governance in addressing economic challenges. With Senegal’s high public debt and budget deficit, the central bank emphasizes the need for necessary reforms and mutual support among UEMOA member states. The BCEAO’s confidence in Senegal’s ability to surmount these difficulties reflects its commitment to regional financial stability, even in the face of electoral uncertainties.
Original Source: www.senenews.com
