An IMF delegation to stay in Lomé from March 27 to April 11 in the framework of ECF approved in May 2017

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Monday, 26 March 2018 17:15
An IMF delegation to stay in Lomé from March 27 to April 11 in the framework of ECF approved in May 2017

(Togo First) - A delegation from the International Monetary Fund (IMF) will stay in Lomé from March 27 to April 11, 2018, to assess Togo’s actions in the framework of the three-year aid programme, involving an extended credit facility (ECF) approved last May.

The delegation’s objective is to, with local authorities’ support, proceed to the second review of the ECF programme, and also update macroeconomic forecasts for the country.

In effect, the delegation will assess progress made by the Togolese government in regards to reforms it implemented to improve its public finances. It will also evaluate progress made with the national development plan (PND 2018-2022).

Let it be recalled that last October, a first delegation of the IMF was in Lomé and concluded in the framework of its mission that “all criteria of quantitative performance were met and structural reforms are being implemented, gradually”. However, the delegation which was led by Ivohasina Razafimahefa had put an accent on persistent tensions which could affect Togo’s macroeconomic indicators. Since then, the tensions were appeased as an open-dialogue was initiated between the various protagonists.

With this, the current visit could lead to the disbursement of the second tranche of the three-year aid facility (which amounts to $245 million overall). Indeed, a first tranche valued at $34.5 million was disbursed just after the loan had been approved by the Bretton Wood institution.  

Fiacre E. Kakpo

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