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Extended Credit Facility: IMF approves a 42-month agreement in favor of Togo

06/03/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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On 2 March last year, the Board of Directors of the International Monetary Fund (IMF) approved a 42-month agreement for Togo under the extended credit facility.

The credit facility granted to Togo is in the amount of 293.60 million SDR or approximately 390 million dollars (200% of the country's quota), with an immediate disbursement of 51.380 million SDR (68.3 million dollars approximately). In reality, Togo continues to face challenges such as restricted access to finance as a result of the tightening of monetary policies in advanced countries, insecurity problems at the northern border, and persistent food insecurity compounded by climate change. To do this, the authorities intend to make growth more inclusive by strengthening social spending and protection, as well as by improving the living conditions of people in the north of the country, thus complementing the military response to terrorism with a civilian response

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