The public debt is not exposed to fluctuations in exchange rates, the Ministry of Finance says

Economic governance
Friday, 29 May 2020 13:48
The public debt is not exposed to fluctuations in exchange rates, the Ministry of Finance says

(Togo First) - Togo’s public debt may be less exposed to fluctuations in exchange rates, the country’s ministry of economy and finance said in its latest report for the quarter. 

This is mainly because the country’s debt is mostly (66.7%) labeled in CFA francs, the report indicates. 

However, “the external debt portfolio (which represents about 33% of Lomé’s total debt, ed. note) is still affected by fluctuations in some currencies.” Among the latter are the US Dollar (24.7% of external debt), the Chinese renminbi (21.8%), and special drawing rights (20.4%). 

The exposure of external debt is still mitigated by the fact that a significant portion of this debt is labeled in Euro (which has a fixed parity with the CFA). 

Ayi Renaud Dossavi

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