Togo’s Finance Minister Barscola Reaffirms Economic Reform drive at IMF Meetings

Finance

Sunday, 19 October 2025 18:53

Togo’s Finance Minister Barscola Reaffirms Economic Reform drive at IMF Meetings

(Togo First) - Togo's Minister of Finance and Budget, Georges Barcola, held a series of meetings with officials from the International Monetary Fund (IMF) and the World Bank during their Annual Meetings in Washington. Discussions focused primarily on Togo's ongoing economic reforms and the financial support needed for their implementation.

Since March 2024, Togo has been backed by a 42-month program approved by the IMF under the Extended Credit Facility (ECF), totaling 293.6 million SDR (approximately $400 million). The program is intended to support robust macroeconomic policies and structural reforms aimed at ensuring fiscal stability, fostering inclusive growth, and strengthening the Togolese economy's resilience. Progress in these areas was central to the discussions between the minister and the technical and financial partners.

During the meetings with the Bretton Woods institutions, Barcola presented the main pillars of Togo's economic strategy. The strategy focuses on controlling public debt, strengthening domestic revenue mobilization, improving the quality of public expenditure, and promoting a favorable environment for private sector development.

To date, Togo has received cumulative disbursements of approximately $129 million under the ECF program. The country is seeking further disbursements following the IMF mission that concluded its visit to Lomé in early October.

During the Annual Meetings, the minister reaffirmed the Togolese government's commitment to continuing rigorous economic governance, consistent with the objectives of its 2025 Government Roadmap and the reforms already underway.

Esaïe Edoh

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.