Audit of USAID/Senegal’s Economic Growth Activities.
Fiscal Year: 2011
Audit Report Available: Yes
Senegal has tremendous potential for economic growth, but the country also faces significant threats to its stability. Senegal has long been considered one of the most stable countries in West Africa and is one of the only West African countries that has not experienced a coup d’état.
It has developed into one of the strongest economies in the region, in part because of its relatively strong economic growth—greater than 6 percent per year. In fact, a recent study published by the African Development Bank and the Organization for Economic Cooperation and Development states that Senegal could replace pre-crisis Côte d’Ivoire as the motor for growth in West Africa.
However, Senegal’s stability is threatened by high unemployment, weak institutions, a lingering 23-year separatist rebellion in the Casamance region, and potential collapse in the neighboring states of Guinea, Guinea-Bissau, and Mauritania. USAID’s strategy in Senegal seeks to boost economic growth by improving the business environment to attract more investment, increasing the volume of trade, and creating wealth through better management of Senegal’s natural resources. USAID’s funding for Senegal’s economic growth program has increased from $31 million to $32 million requested in FY 2010.
This audit will determine whether USAID/Senegal’s economic growth program has increased economic growth.
Source: Office of Inspector General - ANNUAL PLAN - FISCAL YEAR 2011
AUDIT REPORT NO. 7-685-11-006-P MARCH 31, 2011
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