The **International Monetary Fund (IMF)** and the **World Bank** are holding their annual meetings in Bangkok from October 12 to 18. Thailand is hosting the event for the second time, after 1991, and expects more than 15,000 participants. Two countries from West Africa—Ghana and Senegal—are attending the meetings in contrasting economic situations. Ghana has recently completed its IMF-supported economic program, while Senegal is seeking new financing after uncovering previously hidden public debt. On July 27, the IMF's board completed the final review of Ghana’s economic program, which was approved in May 2023. The program provided $3 billion in support over thirty-nine months. The last review allowed Ghana to receive approximately $371 million, bringing the total disbursed to $3 billion. The IMF notes that Ghana's risk of over-indebtedness has dropped to a "moderate" level, two years earlier than expected. The country’s gross domestic product (GDP), which measures the total value of goods and services produced, grew by 6 percent in 2025 and 6.4 percent in the first quarter of 2026. Ghana has also set a goal to keep its debt at 45 percent of GDP by 2034. The IMF attributes this progress to higher commodity prices and successful debt restructuring. However, it emphasizes the need for continued fiscal discipline and central bank independence. Senegal, on the other hand, faces a different challenge. The IMF had paused a $1.83 billion program approved in 2023 after discovering significant discrepancies in how the country reported its public debt. The program included $1.51 billion under extended credit and $324 million for resilience and sustainability. However, the previously hidden debt was found to be over $11 billion, pushing public sector debt to 132 percent of GDP by the end of 2024. In August, an IMF team visited Dakar and met with President Bassirou Diomaye Faye and the Minister of Economy, Finance, and Planning, Cheikh Diba. This led to a technical agreement for a new $2.2 billion loan over thirty-six months. However, the agreement is not yet final and requires approval from the IMF’s board and management. Senegal must also address past data misreporting and secure financing guarantees from its international partners. Both countries have seen similar economic growth, but their debt situations are opposite. Ghana’s GDP increased by 6 percent in 2025, while Senegal’s grew by 6.7 percent, largely due to its first full year of oil production. However, Senegal’s growth outside the oil sector slowed to 2.2 percent. Inflation in Senegal has remained low at 1.4 percent. The IMF notes that Ghana has exited its program with reduced debt risk, while Senegal is seeking new funding to stabilize its debt. The Senegalese government has pledged to improve public debt management and oversight of state-owned enterprises. Recently, Moody’s, a credit rating agency, lowered Senegal’s foreign currency rating from Caa1 to Caa2, reflecting concerns about its economic outlook.