Togo’s Extended Credit Facility under review from October 18 to 30

Public finance
Friday, 19 October 2018 15:35
Togo’s Extended Credit Facility under review from October 18 to 30

(Togo First) - Since October 18, 2018, a team of the International Monetary Fund (IMF) has been in Lomé for the review under the 3 years Extended Credit Facility programme. This facility approved in May 2017 for Togo is estimated at $241.5 million.

The present mission that should be concluded on October 30 is the third under the Credit Facility.

This mission should concretely help the Washington based institution to asses the country’s progress in the implementation of public finances sanitation reforms.

Last June, satisfied with the economic and financial reforms implemented in the framework of the three years programme, IMF announced the third tranche of $35.5 million. That tranche included, the total amount disbursed to Togo in the framework of that extended facility program amounted to $106.5 million (the first tranche of $34.5 million was immediately disbursed after the programme was approved and a second tranche of $36 million disbursed in December 2017). If this review is successful, Togo can expect a fourth tranche.

Fiacre E. Kakpo

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