International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Jun 19, 2021

IMF Staff Concludes Virtual Visit to Togo

An IMF team led by Mr. Jaroslaw Wieczorek, Mission Chief for Togo, held virtual meetings with the Togolese authorities from June 1–18, 2021 to discuss recent economic developments

Discussions were focused on measures to support the ongoing response to COVID-19, efforts to strengthen the nascent economic recovery, the need for reforms to foster inclusive and sustainable private sector-led growth; The Togolese authorities have expressed their interest in support under the Extended Credit Facility; Discussions are expected to continue…

Source: International Monetary Fund (IMF) | Sep 10, 2019

International Monetary Fund (IMF) Staff completes Review Mission to Togo

Economic growth is projected to slightly accelerate from 4.9 percent in 2018 to 5.3 percent in 2019

Togo’s economic recovery is continuing. GDP growth is projected at 5.3 percent in 2019. Inflation was 0.6 percent in July 2019. The fiscal consolidation was sustained through June 2019; revenue administration and public expenditure management reforms undertaken in recent years are progressing. The authorities are committed to address weaknesses in…

Source: International Monetary Fund (IMF) | Jun 27, 2019

International Monetary Fund (IMF) Executive Board Completes the Fourth Review under the Extended Credit Facility (ECF) Arrangement and Approves US$34 Million Disbursement to Togo

During the same meeting, the Board also concluded the 2019 Article IV consultation

Program implementation under the ECF arrangement has been broadly satisfactory; It aims to substantially reduce the fiscal deficit, refocus policies on inclusive growth, and resolve the financial weaknesses in the two public banks; Togo needs to safeguard the hard-won fiscal consolidation and pursue debt reduction. On June 26, 2019, the Executive Board…

Source: International Monetary Fund (IMF) | Oct 31, 2018

IMF Staff Team Completes Review Mission to Togo

An International Monetary Fund (IMF) team led by Mr. Ivohasina Razafimahefa visited Lomé during October 18-31, 2018 to conduct discussions on the third review of the program supported by an Extended Credit Facility (ECF)

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this…

Source: International Monetary Fund (IMF) | Apr 11, 2018

International Monetary Fund Staff Team Completes Review Visit to Togo

Economic growth is estimated to have decelerated to 4.4 percent in 2017 from 5.1 percent in 2016

The IMF team reached a staff level agreement with the authorities on economic and financial policies that could support completion of the second review of the three-year ECF-supported program. Performance under the ECF-supported program has been good; all quantitative performance criteria and structural benchmarks at end-December 2017 were met. Economic…

Source: International Monetary Fund (IMF) | Nov 01, 2017

IMF Staff Team Completes Review Mission to Togo

An International Monetary Fund (IMF) team led by Ivohasina Razafimahefa visited Lomé during October 23-30, 2017 to conduct discussions on the first review of the program supported by an Extended Credit Facility

Economic activity expanded at a moderate pace in the first half of 2017, accompanied by a low inflation. Performance under the ECF-supported program has been good, with all quantitative performance criteria met and structural reforms continuing to be gradually implemented. Lingering tensions could take a toll on the macroeconomic situation.…

Source: International Monetary Fund (IMF) | May 18, 2017

IMF Executive Board Concludes 2016 Article IV Consultation with Togo

Togo’s poverty rate declined from 61.7 percent in 2006 to 55.1 percent in 2015, though it remains geographically concentrated

On May 5, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Togo. [1] The Board also approved a new three-year Extended Credit Facility Arrangement for Togo; a press release on this was issued separately. The economy has expanded at a healthy rate…

Source: International Monetary Fund (IMF) | May 08, 2017

IMF Executive Board Approves US$241.5 Million under the ECF Arrangement for Togo

The Executive Board’s decision enables an immediate disbursement of SDR25.17 million (about US$34.5 million)

The Executive Board of the International Monetary Fund (IMF) today approved a new three-year arrangement for Togo under the Extended Credit Facility (ECF) for SDR176.16 million (120 percent of quota or about US$241.5million) to support the country’s economic and financial reforms.[1] The Executive Board’s decision enables an immediate disbursement of…

Source: International Monetary Fund (IMF) | Feb 14, 2017

Pan-African Banking Finding its Stride

The banks have facilitated many positive changes—providing customers with new and better products and services, operating improved IT and management systems, and observing more advanced regulatory and accounting standards

In the years since the global financial crisis, Africa has witnessed a rapid expansion of cross-border banking, led by banking groups based in Africa that are spurring financial and economic integration and transforming the continent’s financial landscape. These institutions are occupying a space created by the retreat of several global…

Source: International Monetary Fund (IMF) | Jan 19, 2017

IMF Staff Reaches Staff-level Agreement with Togo on an Extended Credit Facility Arrangement

The agreed economic program supported by the ECF arrangement aims to improve the living conditions for the population and to maintain a stable macroeconomic environment that is compatible with public debt sustainability

An International Monetary Fund (IMF) team, led by Cemile Sancak, visited Lomé from January 5-18, 2017 to carry out discussions with the Togolese authorities on a program supported by the IMF’s Extended Credit Facility (ECF) arrangement. Ms. Sancak issued the following statement at the end of the discussions: “The IMF…

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