The International Monetary Fund (IMF) has approved US$75.6 million in support for Senegal against the consequences of the global financial crisis, the Ministry of Economy and Finance announced on Saturday.

The IMF examined the dossier of Senegal on Friday and approved the support under a program known as the Facility of Protection against External Shock, according to a statement released by the ministry.

IMF officials believed the economic situation in Senegal was difficult, especially in 2008. The difficulties came from energy and food price hikes in world markets since 2006, the statement said.

Despite the situation, the IMF recognized the efforts by Senegal to improve transparency of the budget, it said, in reference to an assessment by the organization's mission of technical assistance in Senegal.

The government will continue to make corrections to cater to the international standards, the statement added.

(Xinhua News Agency December 22, 2008)