Togo: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Togo

Togo: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Togo
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Volume/Issue: Volume 2024 Issue 299
Publication date: September 2024
ISBN: 9798400291203
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Fiscal consolidation , Debt sustainability , Government debt management , Debt sustainability analysis , Debt service , Commercial banks

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Summary

Following a series of shocks in recent years, Togo continues to face persistent challenges to food security and terrorist attacks, while broader development needs remain acute. Fiscal expansion implemented in response to the shocks has helped preserve robust economic growth but has also pushed up public debt, reversing the debt reduction achieved during the 2017–20 ECF-arrangement, eroding fiscal space and buffers to absorb shocks, and contributing to regional vulnerabilities in the West African Economic and Monetary Union (WAEMU). In response to these challenges, the Fund approved the authorities’ request for a new ECF-arrangement in March 2024.

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