Togo : First Review under the Extended Credit Facility-Press Release; and Staff Report
Author/Editor:
International Monetary Fund. African Dept.
Publication Date:
December 15, 2017
Electronic Access:
Free Full Text (PDF file size is 1998 KB).Use the free Adobe Acrobat Reader to view this PDF file
Summary:
Context: Growth is projected to hover around 5 percent and inflation to remain within the WAEMU convergence criteria of 3 percent during the 2017-19 program period. The authorities have started the fiscal consolidation envisaged under the ECF-supported program. They have halted the non-orthodox financing of public investment, which had led to a rapid debt accumulation in recent years. Weak institutional capacity may pose risks to program implementation; this may be exacerbated by recent protests, which are the most serious political unrest in Togo in more than a decade. Program performance: All quantitative performance criteria at end-June 2017 were met, as well as four of the five end-June and end-September 2017 structural benchmarks. The two indicative targets at end-June 2017 were missed. The structural benchmark on a restructuring plan for the two ailing public banks has encountered significant delays.
Series:
Country Report No. 17/379
English
Publication Date:
December 15, 2017
ISBN/ISSN:
9781484333075/1934-7685
Stock No:
1TGOEA2017003
Price:
$18.00 (Academic Rate:$18.00)
Format:
Paper
Pages:
71