Togo: Staff-Monitored Program

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 022

Publication date: January 2007

ISBN: 9781451836585

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Topics covered in this book

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Business and Economics , Banks and Banking , Exports and Imports , ISCR , CR , government , company , government debt , unity government , government sector , government's LOI , Togolese authorities , exchange rate , private bank , financial situation , permanent secretary , Arrears , Commercial banks , Budget planning and preparation , State-owned banks , West Africa

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Summary

This paper focuses on the Staff-Monitored Program (SMP) for Togo. The SMP aims to support the preparation of a realistic 2007 budget, with a moderate primary adjustment; anchor budget execution in a pre-election period; strengthening fiscal governance, especially on expenditure management; initiating urgent banking sector reforms; and preparing for state-owned enterprise reforms. During the SMP, the authorities intend to update Togo’s Interim Poverty Reduction and Growth Strategy Paper (I-PRSP), set up a program monitoring mechanism, and reengage with donors, whose technical and financial assistance will be crucial for medium-term prospects.