Publication:
Senegal the economic reforms and the influence of the informal sector on the economic reform process

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Authors
Ndiaye, Modiene.
Subjects
Advisors
Henderson, David
Melese, Francois
Date of Issue
2002-06
Date
Publisher
Monterey, California. Naval Postgraduate School
Language
Abstract
After a severe economic crisis, the Senegalese government was strongly committed to restructuring an economy that was close to financial collapse. To restore economic growth and efficiency, Senegal implemented political and economic reforms to address the challenges of the economic and social crises that compromised the stability of the country. In fact, Senegal began to adopt stabilization and structural adjustment policies because of increasing debts and its inability to pay them. With the support of the World Bank and IMF, Senegal planned to solve the economic crisis through various measures such as limiting public debt, decreasing government spending, promoting exports, and implementing domestic market reforms and privatization. Two policies were implemented: the Agricultural Policy (NAP), and the New Industrial Policy (NIP). The NAP reduced the number of rural development agencies as well as farming subsidies while the NIP privatized state-owned businesses and removed protective tariffs. Despite all these efforts, the objectives of such reforms were not reached. In the early 1990s, the rate of economic growth was low and erratic, and poverty and unemployment increased. To restore growth and efficiency, the CFA Franc (the local currency) was devalued, and at the same time, several other measures were implemented to improve the economy. This thesis explains why the Senegalese economic reforms were undermined and proposes some solutions for fixing the Senegalese economy.
Type
Thesis
Description
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Organization
Naval Postgraduate School (U.S.)
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Format
xvi, 81 p. : ill. ;
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Approved for public release; distribution is unlimited.
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