Senegal has displayed great economic vigour since the 1994 devaluation, with annual GDP growth of more than 5 per cent. Amid this sustained growth, 2000-2002 was a transition period, when a peaceful transfer of political power boosted confidence in the future even though the changeover has made economic decision-makers cautious and delayed programmes in some sectors. The country is also having trouble completing structural reforms that are part of its programme with the IMF, such as privatising the electricity company (Sénélec) and the groundnut marketing body (Sonacos). These two firms have accumulated large deficits that the government had to make up for in 2001, badly skewing the budget. So relations with the Bretton Woods institutions are a little tense, while at home the government is coming to the end of its honeymoon that followed the political changeover. But a good economic performance in 2002 saw GDP grow by an estimated 4.8 per cent. 2003 may be a difficult year, especially as the 2002/03 harvest is not very promising, and GDP growth could fall to 4.1 per cent. However, the country could benefit from investment and trade redirected from Côte d’Ivoire because of the fighting there…