Togo: Government is doing well, regarding its public debt, based on WAEMU and IMF standards

Economic governance
Wednesday, 11 April 2018 16:30
Togo: Government is doing well, regarding its public debt, based on WAEMU and IMF standards

(Togo First) - Minister of Finance, Sani Yaya, held discussions with the press on April 10 to explain how the country’s public debt value based on standards of WAEMU and IMF. This was on the sidelines of a conference marking the end of a mission led by an IMF delegation in Lomé.

According to the Togolese official, ratio of public debt to nominal GDP was at 71.4% end of year December 2017 based on WAEMU’s definition, with the union’s standard being at 70%.

However, according to IMF’s definition which includes public firm’s debt, Togo’s debt was standing at about 77% at the end of December 2017, against 82% a year earlier. A salutary improvement according to the IMF delegation.  

“Public debt to GDP ratio kept reducing as a result of budgetary consolidation engaged by government in the framework of this program,” the mission said, lauding efforts made by Lomé to reduce internal payments arrears. Indeed, regarding this, more than CFA50 billion of arrears were paid in 2017, the finance minister said.

Fiacre E. Kakpo

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