Senegal Prepares for Crucial Elections Amid Economic Challenges

Senegal faces economic headwinds with slower growth and a widening fiscal deficit as it prepares for Nov. 17 parliamentary elections. President Bassirou Diomaye Faye dissolved the opposition-led National Assembly, triggering a snap vote. Analysts are concerned about potential delays in IMF financing and political volatility as the country navigates these challenges.

Senegal's economic outlook remains uncertain as the nation braces for parliamentary elections on Nov. 17. With economic growth slowing to 6.0% and a growing fiscal deficit, the country faces significant financial challenges.

President Bassirou Diomaye Faye, who took office five months ago, dissolved the opposition-led National Assembly, prompting the snap vote. The election arrives during a critical period, as Senegal prepares for the next review of its $1.9 billion IMF loan aimed at stabilizing public finances.

Analysts express concerns about possible delays in IMF funding and political instability ahead of the elections. However, hopes for economic improvement are tied to the country's new oil and gas revenues, which could help address fiscal imbalances. Economic disparities and their impact on political stability remain key issues to watch.

(With inputs from agencies.)