SENEGAL PROMISED 1.8 BILLION DLRS AID
Aid donors have promised Senegal 1.8
billion dlrs in soft loans over the next three years, to be
split between project investment and balance of payment
requirements, the World Bank said in a statement.
    The aid was to support the second phase, running to
mid-1990, of Senegal's "courageous and far-reaching" medium and
long-term adjustment programme.
    Senegal's Plan and Cooperation Minister Cheikh Hamidou Kane
said the country achieved positive growth of 4.2 pct over the
last two years, against negative growth of four pct in 1984,
liquidated its debt arrears and laid the basis of a sound
recovery strategy.
    Aims over the coming years include giving the private
sector a more dynamic role in the economy and rationalising
public sector enterprises.
    He said Senegalese businessmen would make three "regional
trips" to Saudi Arabia, the United States, and Paris, to discuss
the Senegal's "new environment" with western investors.
    Finance Minister Mamoudou Toure said Senegal's global
foreign debt excluding short-term commercial debt came to 800
billion francs cfa (2.67 billion dlrs).
    Citing figures for the budgetary year ending mid-1987 he
deplored the fact debt servicing absorbed 50 pct of Senegal's
budgetary resources, and 27 pct of export revenues.
 Reuter
