IMF Staff Concludes Visit to Togo

IMF News, March 29, 2025

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IMF staff team led by Hans Weisfeld visited Lomé during March 17 - March 28 to discuss macroeconomic developments and policies.
Visit took place in the context of the second review of the Extended Credit Facility (ECF)-arrangement that the IMF has been providing to Togo since March 2024.
The mission will not result in a Board discussion. End-of-Mission press releases convey preliminary findings and represent the views of IMF staff, not necessarily the IMF’s Executive Board.

Economic growth reached an estimated 5.3 percent in 2024.
Growth is projected to reach around 5.5 percent over the medium term, barring major adverse shocks.
Inflation has continued to slow, to 2.8 percent in February 2025 (annual average).
IMF staff commended the authorities on sustained progress in advancing reforms and described discussions as constructive and productive.

Continue implementing reforms towards a disciplined fiscal approach and a sustainable public debt.
Continue reforms to enhance inclusion, improve the business environment, and limit risks.
Further progress on the structural reform and fiscal policy agenda will be a focus of ongoing discussions.

The IMF approved the ECF-arrangement in March 2024 to help address legacies of shocks since 2020 (notably the COVID-19 pandemic and the increase in global food and fuel prices).
The arrangement provides financing of US$ 390 million to Togo on favorable terms.
Objectives of the arrangement include:
- Making growth more inclusive while strengthening debt sustainability.
- Conducting structural reforms to support growth and limit fiscal and financial sector risks.
The first review under the ECF-arrangement was concluded in December 2024.

The IMF team will return to Washington, D.C., and will continue discussions with the Togolese authorities, including during the upcoming IMF/World Bank Group Spring Meetings in Washington, D.C. in April.
Discussions will focus on making further progress on the structural reform and fiscal policy agenda, among other topics.

The IMF team expressed gratitude to the authorities, development partners, and representatives of Togo’s civil society for their constructive engagement and support during the visit.

IMF Staff Concludes Visit to Togo — March 29, 2025.