Budgetary support program : Togo in talks with the IMF
The Togolese government continues negotiations with the International Monetary Fund (IMF) as part of the upcoming deployment of the Extended Credit Facility (ECF) : a budgetary support program for which the country reached an agreement with the Bretton Woods institution last December.
Through this program, the Fund is expected to provide Togo with approximately 390 million dollars (about 237 billion CFA francs) over three and a half years (42 months).
These funds will help consolidate achievements, particularly in the social sector. During the council of ministers on February 8, 2024, the Head of State, SEM Faure Gnassingbé, instructed the government to ensure the preservation of national development gains, maintain progress, and remain attentive to meeting the needs of the population.
According to initial announcements, this IMF support measure is accompanied by a number of commitments on the Togolese side, including reforms in the fiscal field and budget discipline. A set of commitments aligned with a stronger social policy.
« In this regard, the program with the IMF should be developed taking into account the aspirations expressed by citizens following the upcoming legislative and regional elections scheduled for April 13, 2024 », the government stated. After these crucial electoral deadlines, the government plans to define new budgetary orientations aligned with the general policy statement.
