Diplomatic representation from the US:
chief of mission: Ambassador Harriet L. ELAM-THOMAS
embassy: Avenue Jean XXIII at the corner of Rue Kleber, Dakar
mailing address: B. P. 49, Dakar
telephone: [221] 823-4296
FAX: [221] 822-2991
Flag description:
three equal vertical bands of green (hoist side), yellow, and red
with a small green five-pointed star centered in the yellow band;
uses the popular pan-African colors of Ethiopia
Economy Senegal
Economy - 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 5% annually during
1995-2002. Annual inflation had been pushed down to less than 1%,
but rose to an estimated 3.3% in 2001 and 3.0% in 2002. Investment
rose steadily from 13.8% of GDP in 1993 to 16.5% in 1997. As a
member of the West African Economic and Monetary Union (WAEMU),
Senegal is working toward greater regional integration with a
unified external tariff. Senegal also realized full Internet
connectivity in 1996, creating a miniboom in information
technology-based services. Private activity now accounts for 82% of
GDP. In 2003, GDP will probably again grow at about 5%. On the
negative side, Senegal faces deep-seated urban problems of chronic
unemployment, trade union militancy, juvenile delinquency, and drug
addiction.
GDP:
purchasing power parity - $15.64 billion (2002 est.)
GDP - real growth rate:
2.4% (2002 est.)
GDP - per capita:
purchasing power parity - $1,500 (2002 est.)
GDP - composition by sector: agriculture: 18% industry: 27% services: 55% (2001 est.)
Population below poverty line: 54% (2001 est.)
Household income or consumption by percentage share: lowest 10%: 2.6% highest 10%: 33.5% (1995)