compra-08-ndiaye-c2cb60606698840c.pdf

This research paper analyzes the macroeconomic impact of the COVID-19 pandemic on Senegal and evaluates the fiscal and monetary policy responses implemented to mitigate economic decline. It provides a historical overview of Senegal's economic crises and structural adjustments from the 1970s through 2019 to establish a baseline for the pandemic's effects.

• The COVID-19 pandemic caused a significant economic downturn in Senegal, resulting in a GDP growth drop of six percentage points in 2020. Major economic sectors severely impacted include tourism, health, agriculture, banking, and transport.
• Senegal's combined fiscal and monetary policy responses in 2020 resulted in a real GDP growth of 1.3%, which outperformed the International Monetary Fund's initial forecast of -0.4% growth.
• The pandemic led to a sharp increase in unemployment, reaching 15% in 2020 and 20% in 2021, with 40% of the working population affected, particularly those in the restaurant and hotel industries.
• The Senegalese government implemented extensive fiscal measures, including a $100 million post-COVID development plan, $330 million in partial tax debt forgiveness, and $200 million in stimulus for the agriculture, transport, infrastructure, and hotel sectors.
• The Central Bank of West African States (BCEAO) supported the economy by increasing local bank financial resources from CFA 340 billion to CFA 4,750 billion and issuing COVID-19 bonds in April 2020 at a record low rate of 2.5%.
• Public debt increased due to the pandemic, with the debt-to-GDP ratio rising to 68.6% in 2020 from 61.9% at the start of the year. Total public debt was estimated to reach $9.8 billion in 2021.
• The pandemic delayed the development of the energy sector; oil production is now scheduled for between 2021 and 2023, while the overall energy, oil, and gas sectors are not expected to contribute to exports and finance before 2035.

APA

South African Institute of International Affairs (n.d.). compra-08-ndiaye-c2cb60606698840c.pdf. https://saiia.org.za/wp-content/uploads/2021/10/CoMPRA-08-ndiaye.pdf

Chicago

South African Institute of International Affairs. compra-08-ndiaye-c2cb60606698840c.pdf. n.d. https://saiia.org.za/wp-content/uploads/2021/10/CoMPRA-08-ndiaye.pdf.

Wikipedia

{{cite report |author=South African Institute of International Affairs |title=compra-08-ndiaye-c2cb60606698840c.pdf |url=https://saiia.org.za/wp-content/uploads/2021/10/CoMPRA-08-ndiaye.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{southafricaninstituteofinternationalaffairsndcompra08ndiayec2cb60606698840cpdf, author = {{South African Institute of International Affairs}}, title = {{compra-08-ndiaye-c2cb60606698840c.pdf}}, institution = {South African Institute of International Affairs}, url = {https://saiia.org.za/wp-content/uploads/2021/10/CoMPRA-08-ndiaye.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }