The Executive Board of the International Monetary Fund (IMF) said in a statement last Friday that it had approved a 42-month agreement under the Extended Credit Facility (ECF) in favor of Togo.

The IMF agreement will provide Togo with financing of 293.60 million SDR (about 390 million dollars), with an immediate disbursement of 51.38 million SDR (about 68.3 million dollars). Togo continues to face difficulties after a series of shocks that have occurred in recent years. These include restricted access to finance as a result of tighter monetary policies in advanced countries, insecurity problems at the northern border, and persistent food insecurity compounded by climate

According to Okamura (Deputy CEO and Interim President), “the authorities intend to make growth more inclusive by strengthening social spending and welfare, as well as by improving the living conditions of people in the north of the country, 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.”