Togo secures €150 million on the international debt market

Economic governance
Thursday, 18 June 2020 13:39
Togo secures €150 million on the international debt market

(Togo First) - Last month, Togo raised around €150 million (nearly XOF100 billion) in loans on the international market. 

The operation was arranged by Société Générale and was fully insured by the African trade Insurance Organization, ATI (which Togo adhered to early this year).  

According to the Togolese ministry of finance and economy, this operation “is proof of Togo’s credibility as an international debtor, especially in these times where volatility is strong and investors are showing more prudence.”

The interest rate on the loan is 4.5% and it will mature over 10 years. This facility, which is the second international loan the country is taking, will help Togo reduce its short-term commercial domestic debt, as well as reduce debt servicing by “more than €80 million over the next three years.”

Ayi Renaud Dossavi

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