IMF approves $390 million in financing for Togo

The Executive Board of the International Monetary Fund (IMF) reported that has approved a 42-month Extended Credit Facility (ECF) arrangement for Togo.

This deal will provide the country with funding of 293.60 million SDRs (approximately $390 million), or 200% of the country’s quota with an immediate disbursement of 51.38 million SDRs (68.3 million dollars). approximately dollars).

“Togo continues to meet difficulties: restricted access to financing following the tightening of monetary policy in advanced countries, insecurity issues at the northern border, and persistent food insecurity worsened by climate change,” we read. in an IMF press release.

And to add that the authorities must continue on the path of a rebalancing of public finances conducive to growth, to deliver the required budgetary space for the development expenditure that Togo needs while strengthening the sustainability of its debt.