## 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](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)

## Other formats

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## Bibliographic details
- Published: March 22, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400270970.002

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### 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.*

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_Source: 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_