Economists and experts from Africa and Asia are meeting in Dakar this week to propose alternatives to International Monetary Fund policies for managing Senegal’s public debt. Organized by the Ideas Africa Network, the forum, which runs through May 13, 2026, seeks to address the country’s rising debt through restructuring and tax reform.
Challenges to the International Monetary Fund Model
The forum, which began on Monday, May 11, focuses on the growing public debt in Senegal, a situation described by participants as reaching vertiginous levels. A central point of contention among the attendees is the long-standing influence of the International Monetary Fund (IMF) on the nation’s fiscal policy and its impact on economic stability.
Demba Moussa Dembele, an economist, expressed skepticism regarding the effectiveness of the IMF’s long-term presence in the country. He argued that the institution’s standard prescriptions have failed to resolve underlying economic issues and may even be contributing to the current crisis by restricting growth-oriented spending.
It has been more than 45 years that the IMF has been present in Senegal, its solutions have not worked: austerity and the budgetary blocking of public investments contribute to aggravating the economic crisis, so we must move away from this.
Demba Moussa Dembele, economist
Proposed Alternatives for Debt Management
The Ideas Africa Network (IDAN) organized this gathering to present a series of actionable strategies to Senegalese policymakers. Participants are looking beyond traditional austerity measures, which they argue stifle the public investment necessary for long-term development.
One primary avenue discussed is the restructuring of loans, which involves renegotiating terms and conditions when repayment becomes impossible. However, some experts at the forum believe this is not a sufficient solution on its own. Other models proposed include increasing tax revenue while simultaneously encouraging investment, a strategy similar to the approach utilized in Kenya.
The forum also highlighted successful international precedents for significant debt reduction. Elimane Haby Kane, representing the think tank Legs Africa, cited the case of Uruguay, where negotiations successfully reduced a debt of 900 million euros to just 2 million euros.
Another approach involves the pursuit of debt cancellation. This strategy is inspired by the efforts of Pakistan to form an alliance with other Southern nations to demand the cancellation of debt that is categorized as illegitimate
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Moving Economic Debate Beyond Politics
As the forum continues through Wednesday, May 13, 2026, the goal for organizers is to produce a list of concrete, technical solutions for the Senegalese government. A significant challenge remains in how these economic discussions are perceived and handled within the national discourse.
Ibrahima Niang, a sociologist at the Cheikh-Anta-Diop University of Dakar (UCAD), emphasized the need to separate technical economic solutions from partisan interests. He suggested that the forum’s work is necessary to remove the passion from the debate and take it out of the political field
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