Economic Overview
In january 1994, senegal undertook a bold and ambitious economic reform program with the support of the international donor community. this reform began with a 50% devaluation of senegal's currency, the cfa franc, which was linked at a fixed rate to the french franc. government price controls and subsidies have been steadily dismantled. after seeing its economy contract by 2.1% in 1993, senegal made an important turnaround, thanks to the reform program, with real growth in gdp averaging over 5% annually during 1995-2007. annual inflation had been pushed down to the low single digits. as a member of the west african economic and monetary union (waemu), senegal is working toward greater regional integration with a unified external tariff and a more stable monetary policy. high unemployment, however, continues to prompt illegal migrants to flee senegal in search of better job opportunities in europe. senegal was also beset by an energy crisis that caused widespread blackouts in 2006 and 2007. the phosphate industry has struggled for two years to secure capital, and reduced output has directly impacted gdp. in 2007, senegal signed agreements for major new mining concessions for iron, zircon, and gold with foreign companies. firms from dubai have agreed to manage and modernize dakar's maritime port, and create a new special economic zone. senegal still relies heavily upon outside donor assistance. under the imf's highly indebted poor countries (hipc) debt relief program, senegal has benefited from eradication of two-thirds of its bilateral, multilateral, and private-sector debt. in 2007, senegal and the imf agreed to a new, non-disbursing, policy support initiative program.
Environmental Issues
Wildlife populations threatened by poaching; deforestation; overgrazing; soil erosion; desertification; overfishing
Government Type
Republic
Population
12,853,259 (july 2008 est.)
Location
Western africa, bordering the north atlantic ocean, between guinea-bissau and mauritania
Area
Total: 196,190 sq km
land: 192,000 sq km
water: 4,190 sq km
Slightly smaller than south dakota
Country Aliases
Conventional long form: republic of senegal
conventional short form: senegal
local long form: republique du senegal
local short form: senegal
former: senegambia (along with the gambia), mali federation
Capital
Name: dakar
geographic coordinates: 14 40 n, 17 26 w
time difference: utc 0 (5 hours ahead of washington, dc during standard time)
Military Service
18 years of age for compulsory and voluntary military service; conscript service obligation - 2 years (2004)
International Disputes
The gambia and guinea-bissau attempt to stem separatist violence, cross border raids, and arms smuggling into their countries from senegal's casamance region, and in 2006, respectively accepted 6,000 and 10,000 casamance residents fleeing the conflict; 2,500 guinea-bissau residents fled into senegal in 2006 to escape armed confrontations along the border
Sources: Central Intelligence Agency (CIA)
