Togo: First Review under the Extended Credit Facility-Press Release; and Staff Report
IMF Staff Country Reports, December 15, 2017
Source details
- Canonical URL
- Togo: First Review under the Extended Credit Facility-Press Release; and Staff Report
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Bibliographic details
- Published: December 15, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484333075.002
Program implementation and governance
- Program implementation under the ECF-supported program has been good.
- All quantitative performance criteria and prior actions were met.
- Four out of five structural benchmarks were met.
Fiscal consolidation and macroeconomic outcomes
- The fiscal consolidation envisaged under the ECF-supported program has begun.
- The primary deficit improved from an annual average of about 6 percent of GDP in 2013–16 to a surplus of 1.4 percent of GDP in the first half of 2017.
- Improvements were driven primarily by expenditure rationalization and the halting of non-orthodox financing of public investment.
IMF assessment and review decision
- IMF staff supports the completion of the first ECF review as most quantitative targets, prior actions, and structural benchmarks have been met.
Subject areas and keywords emphasized
- Subject areas: Arrears, Debt rescheduling, Expenditure, External debt, Fiscal policy, Fiscal stance, Public debt, Public investment spending.
- Keywords: Arrears, arrears stock, bank recapitalization cost, CR, debt profile, Fiscal stance, GDP, Global, government finance statistics, government Finance Statistics Manual, ISCR, Public investment spending, state-owned enterprise debt, state-owned enterprise debt., Sub-Saharan Africa, West Africa.
Publication specifics
- Pages: 71
- Volume: 2017
- Issue: 379
- Series: Country Report No. 2017/379
- Stock No: 1TGOEA2017003
- ISBN: 9781484333075
- ISSN: 1934-7685
- DOI: https://doi.org/10.5089/9781484333075.002
Source: Togo: First Review under the Extended Credit Facility-Press Release; and Staff Report, IMF Staff Country Reports 2017, 379.
Content in this bundle
- Country Report