Togo: Request for a 42-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Togo

March 22, 2024

Preview Citation

Format: Chicago

Togo: Request for a 42-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Togo, (USA: International Monetary Fund, 2024) accessed November 23, 2024

Also available in: français

Summary

Growth has been resilient to the shocks of recent years, but Togo is facing elevated food insecurity and terrorist attacks while development needs remain acute. Fiscal deficits and debt have increased, reversing the debt reduction achieved during the 2017–20 ECF-arrangement, eroding fiscal space and buffers to absorb shocks, and contributing to regional vulnerabilities in the West African Economic and Monetary Union (WAEMU). Two undercapitalized banks, one state-owned and the other recently privatized, pose risks to financial sector stability and associated fiscal risks. The authorities are requesting financial support of 200 percent of quota (SDR 293.60 million) under a 42-month ECF-arrangement.

Subject: Commercial banks, Debt sustainability, External debt, Financial institutions, International organization, Monetary policy, Public debt, Revenue administration

Keywords: Commercial banks, Debt sustainability, ECF arrangement, ECF program, ECF program objective, Financial support, Global, Government function, The Fund, West Africa

Publication Details

Pages:

114
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/079
Stock No:

1TGOEA2024001
ISBN:

9798400270970
ISSN:

1934-7685

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