A team from the International Monetary Fund (IMF), led by Mr. Edward Gemayel, conducted a mission to Senegal from April 26 to May 3, 2024, to take stock of the recent economic and political developments and lay the ground for the second review under the existing IMF-supported program.

At the conclusion of the mission, Mr. Gemayel issued the following statement:

“The Senegalese economy in 2023 proved resilient despite challenges. Notwithstanding political tensions surrounding the presidential election and external pressures, growth surprised on the upside (4.6 percent), reflecting a good agricultural campaign and a strong tertiary sector. Inflation also saw a faster-than-anticipated decline, dropping to 5.9 percent. Elevated energy subsidies (CFAF 620 billion or 3.3 percent of GDP) and higher interest payments were offset by cuts in investments in order to contain the fiscal deficit at 4.9 percent of GDP, in line with the program target. Additionally, the government has built liquidity buffers in anticipation of the presidential election, contributing to a rise in central government debt (73.4 percent of GDP) above the WAEMU ceiling. The current account deficit remained large (18.8 percent of GDP), reflecting continued weak exports of goods.

Economic activity in 2024Q1 was weaker than anticipated, reflecting political uncertainties linked to the presidential election. High frequency indicators suggest that economic activity was subdued as businesses postponed investments and consumers cut back on spending. Headline inflation declined to 3.3 percent (Y-o-Y). Budget execution was marked by a revenue shortfall and an overrun in the energy subsidy. The outlook, however, remains favorable. Economic growth for 2024 is now projected at 7.1 percent down from 8.3 percent, reflecting weaker economic activity due to the electoral context and delays in gas production to December 2024.

Preliminary end-2023 data suggest that the program remains broadly on track. However, meeting the end-2024 fiscal deficit target of 3.9 percent of GDP will require ambitious measures to reduce tax exemptions and enhance spending efficiency. This should be done through a supplementary budget that would pave the way towards reaching the regional target of 3 percent of GDP in 2025.

Further efforts are needed to advance the structural reform agenda, namely, revising the petroleum product pricing formula and conducting an audit of the electricity company SENELEC in order to implement a new electricity tariff structure, with a social tariff to support vulnerable households. Furthermore, the authorities are progressing on measures to exit the Financial Action Task Force’s (FATF) grey list.

The new authorities have reaffirmed their commitment to the existing IMF-supported program. They recognize that the program’s core pillars align with their own strategic goals, namely: enhancing fiscal resilience and reducing debt vulnerabilities, strengthening governance, promoting structural transformation, and building resilience to climate change.

The IMF team wishes to thank the authorities and other counterparts for their excellent cooperation, and candid and constructive discussions during the visit. Discussions for the second review under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) arrangements are tentatively planned for June 2024.

During the visit, the IMF team met with His Excellency, Prime Minister Ousmane Sonko; Mr. Cheikh Diba, Minister of Finance and Budget; and other senior government officials. The IMF team also had productive discussions with representatives of the business community and development partners.”

Distributed by APO Group on behalf of International Monetary Fund (IMF).

UNECE Resource Management Week 2024 spotlighted the growing roles of the United Nations Framework Classification for Resources (UNFC) and the United Nations Resource Management System (UNRMS) in promoting sustainable development through enhanced integration and effective management of natural resources. 

Growing global application: The adoption of UNFC and UNRMS continues to expand, as evidenced by new legislation such as its integration into the EU Critical Raw Materials Act. In addition to increasing use at national level in Africa, the African Union Commission’s African Mineral and Energy Resources Classification and Management System (AMREC), which is based on UNFC and UNRMS, aligns with both the Africa Mining Vision and the SDGs. This increasing adoption underscores the frameworks’ utility and applicability across diverse legal and regulatory environments. 

Expanding network of International Centres of Excellence on Sustainable Resource Management (ICE-SRMs): The establishment and potential expansion of ICE-SRMs—from Africa to Latin America and East and Southeast Asia—demonstrate the momentum around the UNFC and UNRMS frameworks. The growing interest in establishing new Centes in countries like Armenia, China, and India further reflects their global appeal and practical utility. 

Bridging Documents and methodological advancements: This year’s meeting highlighted updates in bridging documents and methodologies that enhance the integration of UNFC and UNRMS into national and regional policies. Updates to the Bridging Document between the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) Template and UNFC and new bridging documents with countries like China and initiatives such the Pan African Resource Reporting Code (PARC) are examples of how these frameworks foster a transparent, integrated approach to managing the supply chains of critical raw materials. 

Developing global case studies, best practices and innovative technologies: The UK’s Cornwall region exemplifies the successful implementation of UNRMS guidelines, optimizing local resource management. This case study joins a broader collection of global examples demonstrating the efficacy and versatility of the UNRMS framework across various settings. Serving as a model, these instances highlight the substantial benefits of adopting standardized, sustainable resource management practices. The integration of cutting-edge technologies like blockchain and artificial intelligence into the UNRMS framework, as discussed at the event, could further boost transparency and accountability in resource governance. 

Future directions: Looking forward, the discussions laid a foundation for continued, networked and collaborative efforts to advance the global resource management agenda, with UNFC and UNRMS as integral tools. 

Distributed by APO Group on behalf of United Nations Economic Commission for Europe (UNECE).

Nearly one in five children (17.9%) born this year will enter the world without a doctor, midwife or nurse present, putting them and their mothers in danger, as conflict and climate change place critical maternal health services out of reach, Save the Children saidi. 

New analysis by the child rights organisation also found that more than a fifth of births (22.2%) will take place outside a health facility [1], with this figure rising to nearly half in conflict zones. The briefing, Silent Emergency: Women Dying, to Give Life estimates that 24 million mothers will give birth without a doctor, midwife or nurse, and 28 million will give birth outside a health facility. 

A rise in conflict, climate-related disasters and humanitarian emergencies as well as the looming threat of pushback against reproductive health and human rights are putting the brakes on progress towards a world where childbirth is no longer a deadly threat for millions of women, Save the Children said.  

Somalia is grappling with the devastating impact of the climate crisis and is one of the world’s 10 worst conflict-affected countries for children. Across the country, only 31.9% of women give birth with a doctor, midwife or nurse present – the lowest rate of skilled birth attendance in the world.  

Rahma*, 32, recently gave birth in the Beledweyne hospital, supported by Save the Children and the Damal Caafimaad Project [2]. She said her previous home births were traumatic. She said: “When I gave birth to my last child at home, it was tough. I couldn’t find a professional nurse and I had a lot of bleeding. It was a dangerous situation – I almost died.” 

After such a difficult childbirth at home, she was able to have her next child in the hospital under the care of the midwifery team.  “After a few hours of hard labour, I gave birth to a healthy baby boy, called Ahmed*. They took good care of both of us right after the birth and before I left the hospital, I talked to a nurse about breastfeeding and the support I could get.” 

Climate change is increasing the frequency and severity of extreme heat and wildfires, which are associated with heightened risks of preterm birth, stillbirths and pregnancy complications, Save the Children said.  

With global conflict increasing year on year, the analysis found that pregnant mothers in warzones are three times more likely to give birth without a doctor, midwife or nurse. Analysis also found almost half of births (44%) in conflict zones take place outside a health facility compared to 15% of births elsewhere.   

Nowhere has the devastating impact of conflict been more evident than in Gaza, where six months of constant bombardment, siege and obstruction of aid deliveries have annihilated the health system.  Recent analysis by Save the Children found that at least 435 attacks on health facilities or personnel between 7 October 2023 and early April 2024 – equivalent to 73 attacks per month of war [3].  

Action on maternal health worldwide was advancing a decade ago, but progress to achieve the UN goal of 70 deaths per 100,000 births globally by 2030 is now stalling [4]. Research from the World Health Organisation last year found that a woman dies from complications due to childbirth or pregnancy every two minutes. 

Governments must protect the lives of women and children through strong primary health care, comprehensive sexual and reproductive services and education, underpinned by effective, sustainable financing, Save the Children said. Leaders must also stand firm against rolling back progress on sexual and reproductive health and human rights.  

Marionka Pohl, Global Head of Health Policy and Advocacy at Save the Children, said:  

“In both conflict zones and climate change hotspots, children suffer first and worst – even from the moment they take their first breaths. Mothers and babies in these contexts are more likely to be in danger – leading to more children growing up without a mother and more mothers going through the distress of losing their newborns.  

“All women, even in the most remote and dangerous areas of the world, should have access to medical care, and equipment, as well as the right to access reproductive services and education. It is critical that we act now – if we drop the ball on the progress we’ve made over the past few decades it is women and children who will pay the price.” 

Distributed by APO Group on behalf of Save the Children.