Togo: 2019 Article IV Consultation, Fourth Review under the Extended Credit Facility Arrangement, and Request for Waiver of Nonobservance of Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Togo

July 2, 2019

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Summary

Economic activity has been recovering, driven by robust performance in the export and agricultural sectors. Fiscal consolidation efforts have continued; Togo complied with the WAEMU deficit convergence criteria in 2017 and 2018, two years ahead of the timeline agreed by member states; public debt declined from 81 percent of GDP at end-2016 to 76 percent of GDP at end-2018. Inflation stood at 2 percent in March 2019 (y-o-y). The external position has improved. The privatization process for the first public bank encountered delays.

Subject: Debt sustainability analysis, Expenditure, External debt, Public debt, Public investment spending, Revenue administration

Keywords: Africa, clearance effort, CR, Debt sustainability analysis, deficit, disbursement of SDR, Executive Board discussion, Global, headline inflation, ISCR, Public investment spending, Togo, Togo's performance, WAEMU deficit criterion, West Africa

Pages:
133
Volume:
2019
DOI:
https://doi.org/10.5089/9781498323925.002
Issue:
205
Series:
Country Report No. 2019/205
Stock No:
1TGOEA2019001
ISBN:
9781498323925
ISSN:
1934-7685

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