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Senegal President Dismisses Finance Minister In Cabinet Change

My plea to everyone, despite our differences: can we agree upon some measures which have to be taken in order to lift the country's economy from what it is today?" he said. Chidambaram was not available for an interview for this story. AUTHORITIES "STILL DON'T GET IT" An almost comic spectacle of the country's policy deadlock played out in parliament last month as the monsoon session of the legislature got under way. Lawmakers were so busy bawling at each other over issues that might sway voters - a corruption scandal, the partition of a southern state and communal violence - that over its first seven days the lower house spent just 12 minutes on legislative work and there were 11 sittings before a single bill was passed. While New Delhi appeared nonchalant at the economy's bind, investors were not: they fled. The rupee has tumbled more than 20 percent since May and the fall in August was the biggest for any month on record. In a matter of a few years, India has turned economic expansion of 8-9 percent into growth now struggling to reach 5 percent. The current account, the broadest measure of a country's international trade, has a record deficit, the manufacturing sector is shrinking, and credit ratings agencies are hovering. "Our primary concern is that the policy authorities still don't 'get it' - thinking this is a fairly minor squall which will simmer down relatively quickly with fairly minor actions," said Robert Prior-Wandesforde, head of Asia economics research at Credit www.firstfinancialuk.com Suisse. For sure, India is one of several emerging markets from Brazil to Indonesia hit by a flight of capital due to rising U.S.

1. We want our fellow citizens to feel that their living conditions have improved, Toure told reporters after the new appointments were announced. Senegals $14.3 billion economy is forecast to grow 4.3 percent this year and 5.1 percent in 2014, according to the African Development Bank . The country plans to sell $500 million of 10-year international bonds later this year, the International Monetary Fund said in June. Standard and Poors has a B+ rating on Senegalese debt, which is four levels below investment grade and on par with Zambia and Albania. Ba, the incoming finance minister, helped boost total tax collection to 500 billion CFA francs ($1.8 billion) in 2012, while customs revenue grew to 502 billion CFA francs. Sall also removed Youssou NDour, a Grammy Award-winning singer, as the countrys tourism minister, while Budget Minister Abdoulaye Daouda Diallo was moved to the Interior Ministry.

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