Analysis by Region - Emerging Markets - Togo

Analysis by Region - Emerging Markets - Togo

Real GDP growth in Togo accelerated from 5.8% in 2022 to an estimated 6.4% last year on the back of strong export- and investment growth. Despite this solid performance, the country continues to face headwinds, mainly in the form of increased insurgency on its northern border, persistent food insecurity, and difficulty accessing external financing. The deterioration in the fiscal position over the 2020-2022 period has limited authorities’ ability to address these challenges, prompting them to turn to the IMF for support. In March 2024, the Fund announced a new 42-month Extended Credit Facility arrangement with Togo worth $390m. While the amount may seem insignificant, the value of the IMF's guidance and influence over this period will not be.

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