Togo: First Review under the Extended Credit Facility-Press Release; and Staff Report

December 15, 2017

Preview Citation

Format: Chicago

Togo: First Review under the Extended Credit Facility-Press Release; and Staff Report, (USA: International Monetary Fund, 2017) accessed September 19, 2024

Also available in: français

Summary

This paper discusses Togo’s First Review Under the Extended Credit Facility (ECF) Arrangement. Program implementation under the ECF-supported program has been good. All quantitative performance criteria and prior actions were met as well as four out of five structural benchmarks. 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, due primarily to expenditure rationalization and the halting of non-orthodox financing of public investment. The IMF staff supports the completion of the first ECF review as most quantitative targets, prior actions, and structural benchmarks have been met.

Subject: 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 Details

Pages:

71
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2017/379
Stock No:

1TGOEA2017003
ISBN:

9781484333075
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports