The BCEAO commended Senegal’s transparency in its recent economic report, noting the country’s public debt and budget deficit. Governor Jean-Claude Kassi Brou praised the government’s openness in sharing data and highlighted ongoing reforms. He reaffirmed the BCEAO’s supportive role in maintaining financial stability within the UEMOA, emphasizing regional solidarity and expressing confidence in Senegal’s capacity to address its economic challenges.
The Central Bank of West African States (BCEAO) has praised Senegal’s commitment to transparency in a recent report released by the nation’s Court of Accounts. During a press briefing in Dakar following a Monetary Policy Committee meeting, Jean-Claude Kassi Brou, the BCEAO Governor, addressed the country’s economic climate while recognizing the importance of the report’s findings.
The report indicates that Senegal’s public debt has surged to 99.67% of Gross Domestic Product (GDP), with a budget deficit of 12.3%. Although these numbers are alarming, Governor Brou commended the Senegalese authorities for their openness in disseminating this information. He stated, “The authorities have ensured complete transparency so that everyone is aware of the evaluation that has been conducted.”
Furthermore, Jean-Claude Kassi Brou emphasized Senegal’s dedication to enacting reforms aimed at mitigating economic issues. He noted, “The authorities have committed to moving forward with reforms to correct what has not worked well.” He reaffirmed the BCEAO’s supportive role in aiding member countries through difficult times, declaring, “As a central bank, our role is to assist states, and we do so for all countries.”
The Governor also highlighted the principle of monetary solidarity within the West African Economic and Monetary Union (UEMOA), suggesting that member states would extend support to one another during times of hardship to maintain regional stability. In addition, Brou commented on the upcoming presidential election in Côte d’Ivoire, which is set for October, and stated that it does not pose a serious threat to the economic stability of the Union.
Despite the concerning economic indicators presented in the report, the BCEAO remains hopeful about Senegal’s prospects for overcoming these challenges through effective reforms. The institution’s commitment to supporting its member states illustrates its broader mission of preserving financial stability across the region.
In conclusion, the BCEAO has lauded Senegal’s transparency in reporting its economic conditions following the Court of Accounts’ findings. Governor Jean-Claude Kassi Brou highlighted the importance of openness, while emphasizing Senegal’s commitment to reform and the central bank’s supportive role. Overall, there remains cautious optimism regarding Senegal’s ability to navigate its economic challenges, supported by regional solidarity and effective governance.
Original Source: www.senenews.com
