The Executive Board of the IMF approves an extension of the Stand-By Arrangement and an extension of the
Buzz Update The Executive Board of the IMF approves an extension of the Stand-By Arrangement and an extension of the
IMF Executive Board Approves Extension of Standby Arrangement and Extension of Standby Credit Facility Arrangement with Senegal
November 17, 2022
On November 15, 2022, the Executive Board of the International Monetary Fund approved the Senegalese authorities’ request for an extension until January 10, 2023 of the Stand-By Arrangement (SBA) and Credit Facility Arrangement stand-by (SCF) to allow additional time to complete the last reviews of the SBA/SCF at the same time as the last review under Senegal’s Policy Coordination Instrument (PCI). The completion of the reviews will allow the Senegalese authorities to have access to the funds available under the SBA/SCF.
The 18-month SBA/SCF for Senegal was approved on June 7, 2021, with access of SDR 453 million (140 percent of quota) (see Press Release No. 21/159); it was followed by an access increase of SDR 129.44 million (40% of the quota), approved on June 22, 2022. The three-year PCI was approved on January 10, 2020 (see press release no. ° 20/6).
The Board’s decision was taken without formal Board discussion.