IMF Staff Concludes Virtual Visit to Togo
IMF News, June 18, 2021
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- IMF Staff Concludes Virtual Visit to Togo
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Bibliographic details
- Published: June 18, 2021
Mission summary
- Press Release No. 21/188
- Mission dates: June 1–18, 2021
- IMF team led by Mr. Jaroslaw Wieczorek, Mission Chief for Togo
- Visit format: virtual meetings with the Togolese authorities
- Note: This mission will not result in a Board discussion.
Focus of discussions
- Measures to support the ongoing response to COVID-19.
- Efforts to strengthen the nascent economic recovery.
- Need for reforms to foster inclusive and sustainable private sector-led growth and improve development outcomes over the medium term.
- The Togolese authorities expressed interest in support under the Extended Credit Facility (ECF).
Key findings and progress
- Good progress was made on key assumptions underpinning the macroeconomic framework.
- Objective of those assumptions: ensure resources for planned vaccinations and other COVID-19 related needs, and maintain continued medium-term macroeconomic stability with fiscal space for social and development spending.
- The Togolese authorities confirmed their commitment to reforms based on the 2020–25 Roadmap and the National Development Plan.
Policy implications and recommendations
- Continue measures to support COVID-19 response, including securing resources for planned vaccinations and other pandemic-related needs.
- Pursue reforms that can be leveraged to foster inclusive and sustainable private sector-led growth and improve development outcomes over the medium term.
- Preserve fiscal space to allow for social and development spending while maintaining medium-term macroeconomic stability.
Next steps and outlook
- Discussions are expected to continue in the near future with a view to finalizing the understandings on a new ECF arrangement.
- The mission will not lead to a Board discussion; further engagement will focus on finalizing an ECF arrangement.
IMF contact for media
- IMF Communications Department, MEDIA RELATIONS
- PRESS OFFICER: Andrew Kanyegirire
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- Twitter: @IMFSpokesperson
IMF staff statement issued by Mr. Jaroslaw Wieczorek, Mission Chief for Togo.