IMF Appoints New Resident Representative in Togo

Friday, 03 September 2021 15:55
IMF Appoints New Resident Representative in Togo

(Togo First) - The International Monetary Fund (IMF) appointed last Wednesday its new resident representative in Togo: Maximilien Kaffo. Kaffo, a Cameroonian, replaced Burkinabe Jules Tapsoba who has held the position since September 2017. 

The Cameroonian joined the Bretton Woods institution in 2014, as a consultant. Before that, he was working in his country as an economist at the ministry of economy. 

Maximilien Kaffo is a graduate from the University of Yaoundé 1, the University of Montreal in Canada, and the National Advanced School of Statistics and Applied Economics in Côte d’Ivoire

The first mission of the newly-appointed is to take part “in the talks aimed at finalizing agreements for a new Extended Credit Facility (ECF).”  Under the first ECF, which covered the 2018-2020 period, Togo obtained around $245 million.

The talks for a second ECF were initiated by Lomé last June. If conclusive, Togo will get IMF’s support to tackle Covid-19 and restart economic activities.

A few months ago, in May, IMF announced in Paris - during the Summit on the financing of African economies - that it would disburse $240 million for Togo. Two months later, 14 African countries, including Togo, were picked to get a new package of  Special Drawing Rights (SDRs) valued at $33 billion. 

 Esaïe Edoh

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