IMF Mission in Togo Reviews $403 Million Credit Facility

Finance

Tuesday, 30 September 2025 16:18

IMF Mission in Togo Reviews $403 Million Credit Facility

An IMF team led by Hans Weisfeld began a review mission in Lomé on September 29 under Togo’s $403.4 million Extended Credit Facility (ECF).
The mission will assess growth, inflation, social indicators, and implementation of energy subsidy reforms.
The review could unlock a new disbursement, adding to $129 million already received since the program’s approval in March 2024.

Togo began hosting an International Monetary Fund (IMF) mission on September 29 as part of the third review of its Extended Credit Facility (ECF). The delegation, led by Hans Weisfeld, will stay in Lomé until October 10.

The 42-month facility totals SDR 293.6 million (about $400 million) and was approved in March 2024. The program seeks to stabilize Togo’s economy and accelerate structural reforms.

The IMF team will hold talks with Togolese authorities on recent economic developments and medium-term prospects. The discussions will cover growth, inflation, national accounts, social indicators, and the government’s energy subsidy adjustment mechanism.

Officials expect that successful completion of the review could open the way for a new disbursement. The ECF agreement provides $403.4 million in total financing on concessional terms to help Togo absorb economic shocks since 2020.

The IMF has already disbursed about $129 million to Togo since March 2024 under the facility. The program aims to make growth more inclusive, strengthen debt sustainability, and advance structural reforms to boost activity and limit fiscal and financial risks.

This article was initially published in French by Esaïe Edoh

Adapted in English by Ange Jason Quenum

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.