Senegal 2015, an emerging nation
The development priority defined by the Economic and Social Development Policy (2011-2015) and sector policies on education, health, agriculture, energy, water, sanitation, local development, private sector, Environment and Sustainable Development, aim to provide Senegal with an emerging economy by 2015, driven by a strong private sector, through:
- The provision of quality human capital capable of sustaining gains and competing internationally,
- The improvement of the business environment
- Focusing & concentrating public investment in the key sectors of health, education, water, social housing, energy and agriculture to improve quality of live
- The proper zoning and management of land and a more efficient and sustainable management of national and local natural resources
- The promotion of democracy and good governance
Excellent levels of performance
Senegal’s standing in international rankings:
Quality and business practice : 5th top reformer globally and first African in the World Bank’s 2009 Doing Business Report and the second best business destination in the 2011 WAEMU report
Rigorous management of public finances : the first country in West Africa to have been rated ’B +/Stable/B’ by Standard & Poors.
Low risk investment country : Moody’s rates Senegal as B1, due to its sovereign debt in foreign and local currency, relative macroeconomic stability, potentially unlimited access to foreign currency through its membership in the West African Monetary Union (UEMOA), a rising but moderate debt, international financial community support and a political situation relatively stable.
The accelerated growth strategy (AGS), implemented since 2006 to boost investment and sustainably reduce poverty, has already achieved significant results.
Community Exchanges Regulations
Senegal shares a common currency, the CFA franc, with the 8 countries of the West African Economic and Monetary Union (WAEMU), an organization that includes the Central Bank of West African States (BCEAO) with headquarters in Dakar. WAEMU has a number of provisions that apply uniformly to all member states, namely: