Togo; 2007 Article IV Consultation and First Staff Review of the Staff-Monitored Program: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Togo

The 2007 Article IV Consultation highlights Togoâ€™s developments and performance under the Staff-Monitored Program (SMP). Togolese banks have the highest nonperforming loan (NPL) ratio in the West African Economic and Monetary Union (WAEMU) area, reflecting primarily past lending to loss-making enterprises in the cotton and phosphate sectors. Executive Directors commended the progress made in restoring fiscal discipline and strengthening governance, in particular the reforms to strengthen tax and customs administration and improve expenditure control.

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Year of publication:	2007-06-25
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Article IV consultations \| Banking systems \| Debt relief \| Economic reforms \| Economic recovery \| Economic indicators \| Economic growth \| Exchange rates \| Export competitiveness \| External debt \| Poverty Reduction and Growth Facility \| Public debt \| Staff appraisals \| Staff Reports \| Staff-monitored programs \| debt service \| fiscal adjustment \| debt sustainability \| current account \| public sector debt \| balance of payments \| central bank \| external debt service \| current account balance \| current account deficit \| primary deficit \| government debt \| external public debt \| public and publicly guaranteed \| external financing \| external borrowing \| tax administration \| debt dynamics \| domestic financing \| fiscal pressures \| fiscal governance \| fiscal spending \| fiscal revenues \| debt ratio \| official creditors \| debt sustainability analysis \| multilateral creditors \| external debt sustainability \| commercial debt \| domestic debt \| fiscal position \| fiscal deficit \| public expenditure \| fiscal framework \| fiscal data \| fiscal deficits \| debt stock \| domestic currency \| debt data \| fiscal balances \| public sector borrowing \| long-term debt \| fiscal balance \| bilateral debt \| private sector debt \| budgetary funds \| short-term debt \| government budget \| ppg debt \| primary fiscal balance \| revenue collection \| currency debt \| public external debt \| public finances \| tax revenue \| net debt \| fiscal assumptions \| debt burden \| tax reform \| debt service to exports \| fiscal indicators \| total external debt \| debt ratios \| reserve assets \| fiscal discipline \| external debt data \| fiscal reforms \| debt situation \| fiscal policy \| fiscal policies \| fiscal adjustment effort \| fiscal surplus \| external shocks \| primary fiscal deficit \| fiscal risks \| fiscal management \| general resources account \| liquidity injections \| budget allocations \| accumulation of arrears \| private banks \| foreign aid \| debt thresholds \| annual budget \| primary expenditure \| fiscal outlook \| budget support \| debt service projections

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 07/217 6 pages long
Source:	RePEc - Research Papers in Economics

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