Togo: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Modification of Performance Criteria and Augmentation of Access: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Togo
October 21, 2008
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This paper discusses key findings of the First Review Under the Poverty Reduction and Growth Facility for Togo. All relevant performance criteria for the first review were met, some by wide margins. Implementation of the structural reform program was satisfactory. Good revenue collection and restrained spending resulted in a large primary surplus in the first half of 2008. A moderate revision to the end-2008 fiscal primary balance target is proposed to reflect the revenue losses and new expenditures resulting from the price shocks and flooding.
Subject: Arrears, Banking, Debt service, External debt, Food prices, National accounts, Public financial management (PFM)
Keywords: Arrears, authority, clearance strategy, CR, Debt service, Executive Board discussion, Global, ISCR, PRGF arrangement, PRGF loan, PRGF resource, price shock, Togo, West Africa
Pages:
51
Volume:
2008
DOI:
Issue:
346
Series:
Country Report No. 2008/346
Stock No:
1TGOEA2008004
ISBN:
9781451836646
ISSN:
1934-7685
Notes
Also available in French
