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The debt debate is unavoidable because everyone contributes to it; thus, everyone has the right to be informed and discuss it. In my view, the essence of the government’s initiative on September 26 is not merely the numbers, however crucial or significant they may be, but rather the new attitude of transparency that has emerged.
The new approach that the authorities appear to adopt in their relations, not only with Bretton Woods institutions and technical and financial partners (PTF) but primarily with the Senegalese people, symbolizes truthfulness, which entails political courage and ethical management. Some argue that the audit results should not be disclosed as it may deter investors.
Ultimately, what do we want? Since the first Structural Adjustment Plan (PAS) in 1979 under Prime Minister Abdou Diouf, generations of opposition members have accused their government counterparts of providing the public, the IMF, and the World Bank with misleading figures. The distinctive aspect now is that the data is being published to serve as a reference for the ongoing policies and actions of the State.
I deem this to be extremely courageous, and it is the only path to earning respect. To believe that the country can transform for the benefit of its citizens based on falsehood would be a capitulation by the new authorities, indicating a renunciation of any ambition to make positive changes.
Contrary to what has been suggested, no economic or financial partner will withdraw from Senegal due to the government’s commitment to truth unless Senegal itself chooses to do so. All informed observers of the current global power dynamics are aware of this. The policies of the IMF and the World Bank have faced rightful criticism from Africans since the 1980s, as they are viewed as aimed solely at extracting resources to pay debts that have not always benefited the people obliged to repay them. These institutions were not invited here.
The irresponsibility of African leaders, including those in Senegal, who have often been subservient to external powers, is what has brought our nations to their knees. These institutions do not impart knowledge that we do not already possess regarding sound management practices. If transparency and honesty are deemed synonymous with grave failures among state leaders, then there is no other option but to abandon hope, as all would appear to be lost.
Fortunately, that is not the case. I perceive the government’s approach as a means of setting a clear direction. We cannot navigate through this current crisis by adhering to our usual practices. Our nation may not be at war, but the challenges it faces are akin to those experienced by wartime countries.
Persistent hunger and malnutrition, millions unable to access medical treatment, soaring unemployment leading to tragedies at sea, etc. When France was occupied by Germany in 1940, resulting in 100,000 deaths in one month and 8,000,000 displaced individuals, England stood alone against Hitler.
Winston Churchill, then British Prime Minister, delivered a historic speech that continues to resonate with historians: “I say it is waging war by land, sea, and air. We will wage war with all our might and with the strength that God has bestowed upon us, and we will wage war against a monstrous tyranny, unequaled in the dark and lamentable catalogue of human crimes. This is our policy…
“All I have to offer is blood, toil, tears, and sweat” (emphasis added). As far as I am aware, Bassirou Diomaye and Ousmane Sonko offer neither blood nor tears because our country is not engaged in an outright war against an enemy like England was against Nazi Germany; however, they undoubtedly labor and exert effort to contribute.
The Prime Minister’s statement on September 26, 2024, regarding the true state of the country is advantageous in every respect, as it signals new attitudes across the board, both internally and externally. I hope many more will emerge to establish and uphold the only practice capable of extricating us from the quagmire we have been struggling in for so long.
Our hope lies in this direction.
This October 2, 2024
By Mamadou Diop Decroix
Secretary General of Ànd-jëf/Pads
The Debt Debate: Transparency and Responsibility in Senegal’s Governance
World Bank, economic policies, financial management, Mamadou Diop Decroix">
The Importance of Debt Transparency
The ongoing debt debate affects everyone. Every citizen has a stake in understanding how public debt is managed, as these finances directly influence the economy and the day-to-day living conditions of individuals. The government’s recent exercise on September 26 demonstrated a conscious shift towards greater transparency in financial matters. As Mamadou Diop Decroix articulates, the heart of this effort transcends mere figures, focusing instead on fostering a relationship of honesty with the Senegalese people and partners like the Bretton Woods institutions.
The New Posture of Truth in Governance
This newfound commitment to transparent governance symbolizes a major leap in political courage and accountability. By making public the outcomes of financial audits, the government aims to set a precedent for future reporting and management practices. This aligns with a broader objective of ensuring that the state’s actions are informed by accurate data rather than unfounded assurances.
Historical Context of Fiscal Manipulation
Since the introduction of the first Structural Adjustment Plan (PAS) in 1979, accusations of financial misrepresentation have plagued Senegal’s political landscape. Prior governments have been criticized for providing misleading data to international financial institutions like the IMF and the World Bank. The present administration’s choice to disclose comprehensive financial figures stands as a bold counter-narrative to past practices.
Benefits of Transparency in Debt Management
- Boosts Investor Confidence: Transparency may mitigate fears among potential investors regarding the accuracy of financial reports.
- Supports Sustainable Development: Honest assessments lead to better strategic planning and resource allocation.
- Encourages Public Engagement: When citizens are informed about fiscal policies, they can participate actively in governance.
- Fosters Accountability: Open financial reporting holds policymakers accountable for their decisions and management.
Potential Risks of Emphasizing Transparency
While the move towards transparency is inherently positive, there are concerns that revealing harsh economic truths could deter foreign investment. Critics argue that potential investors may be dissuaded if faced with alarming revelations about the economy. However, the fear of obscurity should not inhibit the discourse of truth. Informed observers recognize that trust is built on honesty, rather than shrouded figures.
The Role of International Financial Institutions
The IMF and World Bank have often been seen as external entities that impose stringent measures on African nations. These institutions have drawn criticism for prioritizing debt repayments over citizens’ welfare, particularly in Senegal. It is essential to acknowledge the historical context which has shaped perceptions of these financial partners. The expectation is clear: leadership must rise to the occasion and navigate these relationships with integrity while ensuring that the interests of the Senegalese people remain paramount.
The Weight of Historical Lapses
Historically, African leaders have been accused of capitulating to external pressures without advocating for their populations. The narrative that transparency will lead to catastrophic results speaks to a deeper mistrust of foreign agents rather than an embrace of honesty. Acknowledging past failures, the current administration is taking risks to avert the cycle of misinformation.
A New Vision for Economic Policy
Dismantling the culture of deception is necessary for Senegal’s long-term prosperity. By revealing accurate financial information, the government demonstrates a commitment to reform and accountability. In a narrative reminiscent of Winston Churchill’s dedication during World War II, the government’s transparent approach can be seen as a call to action against systemic corruption and inefficiency.
Pioneering Change: Key Figures in Governance
Leadership Insights
| Name | Position | Vision for Debt Management |
|---|---|---|
| Mamadou Diop Decroix | Secretary General of Ànd-jëf/Pads | Advocates for full disclosure and ethical management of state resources. |
| Ousmane Sonko | Opposition Leader | Favors accountability through rigorous economic reform. |
| Bassirou Diomaye | Member of Parliament | Supports transparency as a tool for recovery and civic engagement. |
Conclusion: Commitment to a Transparent Future
The recent shift towards transparency in debt management represents a critical juncture for Senegal’s governance. As the nation grapples with historical challenges and future aspirations, the commitment to truth-telling serves as an essential foundation for rebuilding trust among citizens and stakeholders alike. Through these transparent practices, Senegal can foster a climate conducive to sustainable development—and, ultimately, to securing a brighter future for generations to come.
