Five days ago, President Macky Sall was sworn into office as President of Senegal. His inauguration was inexpensive, taking place in a tent, and ending with a march through the streets of the capital, Dakar. His predecessor, Abdoulaye Wade, celebrated his inauguration with a lavish and expensive party. Wade has been increasingly criticized by leaders of the IMF and World Bank for public policies that worsened the effects of rising food prices, but most importantly, he lost popularity among the Senegalese. Wade has been blamed for installing his son in positions of power, attempting to change the constitution to make re-election easier, and seeking a third term when law limits terms of presidency to two. Wade also was blamed for superfluous spending, once spending $27 million dollars on a statue that, when finished, will be taller than the Statue of Liberty. Not only that, but he planned to profit from the statue himself, stating "So we should see how we share the benefits. The state will go with 65% and l shall take 35% for myself." No wonder Wade lost in a landslide to incoming president Macky Sall, who won nearly 66% of the vote. However, Sall now faces many economic problems, including rising food prices, high unemployment, a large debt, and a significant dependence of foreign aid. Sall has pledged to make tackling poverty a priority, promising to fund cuts to the price of basic necessities such as rice with reductions in the cost of running the government. This tactic is exactly what I would suggest for the country. Senegal's economy is in recession, and there are many unemployed people, and the cost of inflation is high. Redirecting government funds and reducing corruption within the government will ultimately increase government spending, particularly on social welfare programs and employment. Cutting the price of foods will increase the demand for it, and consumption will go up. Senegal should stick with this expansionary monetary and fiscal policy if it hopes to overcome the economic woes that Wade left behind. 


Articles used: http://www.reuters.com/article/2012/04/02/us-senegal-president-idUSBRE8310JD20120402, http://topics.nytimes.com/top/news/international/countriesandterritories/senegal/index.html, and http://news.bbc.co.uk/2/hi/africa/8353624.stm