{
  "title": "Togo: Request for a 42-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Togo",
  "publication": "IMF Staff Country Reports, March 22, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/03/22/togo-request-for-a-42-month-arrangement-under-the-extended-credit-facility-press-release-546748",
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  "summary": "This paper discusses Togo’s Request for a 42-Month Arrangement under the Extended Credit Facility (ECF). Togo continues to face headwinds, following a series of shocks in recent years.",
  "sections": [
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      "heading": "Overview",
      "content": "- The paper discusses Togo’s Request for a 42-Month Arrangement under the Extended Credit Facility (ECF).\n- Context: Togo continues to face headwinds following a series of shocks in recent years.\n- Program objectives:\n  - Accelerate poverty reduction.\n  - Maintain macroeconomic stability.\n  - Catalyze further external financing."
    },
    {
      "heading": "Macroeconomic and regional impact",
      "content": "- The ECF-arrangement is expected to benefit Togo and contribute to macroeconomic and external stability in the West African Economic and Monetary Union (WAEMU).\n- By providing and catalyzing concessional financing for budget purposes, the program aims to ease trade-offs between:\n  - Enhancing inclusion through higher social spending.\n  - Strengthening debt sustainability."
    },
    {
      "heading": "Fiscal policy and debt sustainability",
      "content": "- Authorities will strengthen debt sustainability through a large fiscal consolidation in line with a dual fiscal anchor.\n- The program couples concessional financing with a fiscal consolidation strategy to protect both inclusion objectives and debt metrics."
    },
    {
      "heading": "Financial sector, public finance, and structural reforms",
      "content": "- To support growth and limit fiscal and financial sector risks, the authorities will:\n  - Strengthen public financial management.\n  - Improve the business environment.\n  - Ensure the reform of the remaining state-owned bank that was not completed under preceding programs."
    },
    {
      "heading": "Key descriptive metadata (from the content)",
      "content": "- Publication date: March 22, 2024\n- Arrangement duration: 42-Month Arrangement under the Extended Credit Facility (ECF)\n- Subject tags included in the source: Commercial banks, Debt sustainability, External debt, Financial institutions, International organization, Monetary policy, Public debt, Revenue administration\n- 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\n\nSource: 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.\n\n---\n\n Content in this bundle\n\n- 1tgoea2024001\n  - 1tgoea2024001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1tgoea2024001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 22, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400270970.002",
    "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:",
    "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:",
    "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.",
    "To support growth and limit fiscal and financial sector risks, the authorities will:",
    "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",
    "**1tgoea2024001**"
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