Togo: Public debt falls below 70% at end-March 2019

Public finance
Wednesday, 03 April 2019 15:46
Togo: Public debt falls below 70% at end-March 2019

(Togo First) - From over 80% at end-2016, Togo’s public debt was below 70% at the end of March 2019. This was declared by Sani Yaya, minister of economy and finances last Tuesday during a meeting to review a mission of the International Monetary Fund (IMF) under the fourth extended credit facility (ECF) review.

The decrease results from efforts made by the government to cut down public debt. Indeed, “the major budgetary effort started in 2017 was prolonged to September 2018,” the mission said, adding that while results lowered near the end of the year, this was due to “lower revenues than expected and higher expenses.” Beside this, “structural budgetary reforms and other reform programs are moving on well.”

Let it be however noted that between December 2017 and December 2018, Togo’s external debt rose slightly from 19.9% of its GDP to 20.5%. Meanwhile, internal debt slumped from 58.8% to 56.7% over the same period.

Ayi Renaud Dossavi

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