Togo: Request for a 42-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Togo
IMF Staff Country Reports, March 22, 2024
Source details
- Canonical URL
- Togo: Request for a 42-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Togo
Other formats
Bibliographic details
- Published: March 22, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400270970.002
Overview
- The paper discusses Togo’s Request for a 42-Month Arrangement under the Extended Credit Facility (ECF).
- Context: Togo continues to face headwinds following a series of shocks in recent years.
- Program objectives:
- Accelerate poverty reduction.
- Maintain macroeconomic stability.
- Catalyze further external financing.
Macroeconomic and regional impact
- The ECF-arrangement is expected to benefit Togo and contribute to macroeconomic and external stability in the West African Economic and Monetary Union (WAEMU).
- By providing and catalyzing concessional financing for budget purposes, the program aims to ease trade-offs between:
- Enhancing inclusion through higher social spending.
- Strengthening debt sustainability.
Fiscal policy and debt sustainability
- Authorities will strengthen debt sustainability through a large fiscal consolidation in line with a dual fiscal anchor.
- The program couples concessional financing with a fiscal consolidation strategy to protect both inclusion objectives and debt metrics.
Financial sector, public finance, and structural reforms
- To support growth and limit fiscal and financial sector risks, the authorities will:
- Strengthen public financial management.
- Improve the business environment.
- Ensure the reform of the remaining state-owned bank that was not completed under preceding programs.
Key descriptive metadata (from the content)
- Publication date: March 22, 2024
- Arrangement duration: 42-Month Arrangement under the Extended Credit Facility (ECF)
- Subject tags included in the source: Commercial banks, Debt sustainability, External debt, Financial institutions, International organization, Monetary policy, Public debt, Revenue administration
- Keywords included in the source: Commercial banks, Debt sustainability, ECF arrangement, ECF program, ECF program objective, financial support, Global, government function, The Fund, West Africa
Source: IMF Staff Country Report — “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.
Content in this bundle
- 1tgoea2024001