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Economic & Sector Work :: Country Economic Memorandum

Senegal - Policies and Strategies for Accelerated Growth and Poverty Reduction : A Country Economic Memorandum

AGED ANALYTICAL WORK ANNUAL GROWTH BUDGET REFORMS CAPITAL FORMATION CLIMATE COMMODITIES DEVELOPMENT INDICATORS DEVELOPMENT POLICIES DOMESTIC SAVINGS ECONOMIC CONDITIONS ECONOMIC COOPERATION ECONOMIC GROWTH ECONOMIC MANAGEMENT ECONOMIC MEMORANDUM ECONOMIC POLICY ECONOMIC STRUCTURE ECONOMISTS EDUCATION EDUCATION LEVEL EDUCATIONAL ATTAINMENT ELASTICITIES EMPLOYMENT EMPLOYMENT STATUS EQUILIBRIUM EQUIVALENT CONSUMPTION EXCHANGE RATE EXPENDITURE GROUPS FINANCIAL MARKETS FISHERIES GIRLS GROWTH PERFORMANCE GROWTH RATE HEALTH HEALTH BEHAVIOR HEALTH INTERVENTIONS HEALTH OUTCOMES HEALTH PROVIDERS HEALTH SECTOR HEALTH SERVICES HOUSEHOLD SURVEY HUMAN CAPITAL HUMAN DEVELOPMENT ILLITERACY IMPORTS INCOME INCOME GROUPS INDUSTRIAL POLICY INFERTILITY INFORMAL SECTOR LABOR COSTS LABOR FORCE LABOR MARKET LABOR MARKETS LABOR PRODUCTIVITY LONG TERM MACROECONOMIC STABILITY MALNUTRITION MARKET LIBERALIZATION MORTALITY MOTIVATION NUTRITION OIL PENSION SYSTEM PER CAPITA INCOME POLICY CONTEXT POLICY ENVIRONMENT POLICY IMPLICATIONS POLICY OPTIONS POLICY PROCESS POVERTY ALLEVIATION POVERTY ASSESSMENT POVERTY MONITORING POVERTY PROFILES POVERTY RATE POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRIMARY EDUCATION PRIVATE CONSUMPTION PRODUCERS PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURES PUBLIC HEALTH PUBLIC POLICIES PUBLIC POLICY PUBLIC RESOURCES PUBLIC SECTOR PUBLIC SERVICES PUBLIC SPENDING REAL EXCHANGE RATE SAVINGS SERVICE DELIVERY SOCIAL PROTECTION SOCIAL SERVICES STRUCTURAL CHANGE TRADE POLICY URBAN AREAS VOCATIONAL TRAINING VULNERABLE GROUPS WAGES ECONOMIC MANAGEMENT POVERTY REDUCTION STRATEGIES MACROECONOMIC CORRELATIONS ECONOMIC GROWTH COMPETITIVENESS EXCHANGE CONTROL POLICY CURRENCY PARITY MONETARY UNIONS CURRENCY ISSUANCE HUMAN CAPITAL INVESTMENTS SOCIAL SECTOR INVESTMENT EDUCATION DELIVERY PUBLIC HEALTH PUBLIC EXPENDITURES & THE POOR SOCIAL PROTECTION SYSTEMS PENSION SYSTEMS TAXATION UNIONS BUSINESS ENVIRONMENT GOVERNMENT ROLE EMPLOYMENT CREATION POLICIES PRODUCTIVITY GROWTH HUMAN CAPITAL FORMATION FISCAL EFFICIENCY
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Washington, DC
Africa | Senegal
2013-07-31T21:48:03Z | 2013-07-31T21:48:03Z | 2004-04-03

This Country Economic Memorandum (CEM) finalized as the implementation period of the Poverty Reduction Strategy (PRSP) began, undertaken in a context of other significant investigations on PRSP themes. One of the main macroeconomic variables affecting growth and competitiveness of the Senegalese economy, is the nominal exchange rate, which, as a member of the West Africa Economic and Monetary Union (WAEMU), its currency, the CFA franc, has a fixed parity to the Euro, and its issuance is governed for all members, by a single central bank, where the nominal exchange rate is not a policy variable under Senegal's direct control. This is why the CEM does not take up issues concerning the nominal exchange rate, however, several measures of the real exchange rate are examined. CEM chapters on human capital include treatment of PRSP-related issues in health and education. The chapters present a portrait of constraints hindering progress toward PRSP targets, and the main interrelated points, first, between health and education, and second, between the public expenditure system and the delivery of health and education services to the poorest citizens. On social protection, the CEM analyzes important topics in tax incidence and pensions. Recommendations suggest Senegal should foster cooperation between unions, firms, and government, so as to shift all parties' focus away from dividing rents, toward the expansion of employment and production, creating a profitable business environment, with long term commitment to the marketplace, and, where the labor force is more likely to stimulate appropriate human capital formation. This calls for improvements in the overall efficiency of the education system, while systems of fiscal decentralization must b e adequate to the delivery of social services in all regions.

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