Togo: Request for Three: Year Arrangement Under the Poverty Reduction and Growth Facility: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Togo

Volume/Issue: Volume 2008 Issue 146
Publication date: April 2008
ISBN: 9781451836622
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Topics covered in this book

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Banks and Banking , Exports and Imports , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , growth facility , Three-Year , Three-Year arrangement , authority , clearance operation , IMF staff mission , PRGF arrangement , Poverty reduction strategy , Arrears , Poverty reduction , Debt service , West Africa , Global

Summary

Togo has made significant progress in advancing economic and political reforms under the Staff-Monitored Program (SMP). Important fiscal governance reforms have boosted tax revenues and helped expenditure control. The I-PRSP is designed to preserve macroeconomic stability while reviving economic growth and reducing poverty. The Poverty Reduction Growth Facility (PRGF) helped to consolidate macroeconomic stability, achieve fiscal and debt sustainability and pave the way for HIPC/MDRI debt relief. On account of a strong performance under the SMP, a fast reviving economy and achieving fiscal and debt sustainability, Togo requested a three-year arrangement with the IMF under the PRGF.