Togo: First Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Togo

Togo: First Review Under the Extended Credit Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Togo
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Volume/Issue: Volume 2025 Issue 005
Publication date: January 2025
ISBN: 9798400298240
$20.00
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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , governance Diagnostic Assessment , staff appraisal , Togo authorities , government roadmap , IMF governance Diagnostic , IMF governance Diagnostic Assessment , Debt sustainability , Debt service , West Africa , Global , Sub-Saharan Africa , Africa

Summary

Following the shocks of recent years, fiscal expansion has helped preserve robust economic growth but has also pushed up Togo’s public debt and contributed to vulnerabilities in the West African Economic and Monetary Union (WAEMU). Further, despite the fiscal expansion, Togo’s progress towards the SDGs has slowed sharply. Meanwhile, undercapitalization of two important banks, while improving, has not been fully resolved so far and continues to threaten financial sector stability.