This is the conclusion of an International Monetary Fund (IMF) mission, led by Norbert Funke.

In a statement he said that The difficult economic environment has complicated implementation of some measures of the government's economic and financial program. Most quantitative assessment criteria were met, including the limit on central government payment delays, and key structural benchmarks have been completed. However, the overall fiscal deficit was higher in 2009 than envisaged under the program, reaching 5 percent of GDP. Revenues fell short, mostly due to tax arrears of public enterprises (mainly SENELEC), and current expenditure was higher than programmed. Public investment, a government priority, rose to 10½ percent of GDP. As the recovery gains momentum, the fiscal stimulus that has been used to cushion the impact of the global crisis will need to be gradually withdrawn to return to the medium-term deficit target of 4 percent of GDP that is consistent with debt sustainability. To reach this target, non-priority expenditure will need to be contained through sound public financial management. In 2010, the fiscal deficit should remain below 5 percent of GDP.

“Progress on structural reforms has been mostly satisfactory. The government has made progress in paying down extra-budgetary spending and agency and public institution debt and is committed, based on a careful review, to regularize past expenditures that were not budgeted. Expeditious payment in this area, accompanied by a transparent and publicly communicated process, is indispensable so that financial relations between the government and the private sector can return to normal. Initiatives that are centered on public financial management, a financial sector action plan, and tax expenditures are progressing broadly in line with program commitments. The mission remains concerned about slow progress in energy sector reform.

“To raise Senegal's growth potential, the authorities must accelerate implementation of their growth strategy, giving priority to improving competitiveness through a better business climate and further improvements in governance. Comprehensive reform of the energy sector, in close cooperation with development partners, needs to proceed without further delay in order to limit the significant fiscal costs and economic and financial risks related to that sector. Energy supply bottlenecks need to be addressed, SENELECs operational efficiency increased, and tariffs and the tariff structure need to reflect the true cost of energy production, while protecting the most vulnerable. Because Senegal's financial sector also needs to make a larger contribution to growth, it is vital to improve the institutional, legal, and operating environment for that sector prudently, while guarding against vulnerabilities.