This archive report was first published on 18 December 2019.
On December 18, 2019, the International Monetary Fund (IMF) approved a $150 million (KSh15 billion) loan for Togo to support the country's efforts in improving its debt management.
The loan, which is significantly lower than the $334 million (KSh33.9 billion) Togo originally sought, is aimed at helping the country achieve its development goals, including providing electricity to 60% of the population by 2022 and universal access by 2030, as stated by the government of Togo.
According to the IMF, Togo has made significant progress in narrowing its budget deficit to 71% of GDP from 81% at the end of 2016. The IMF also forecasts the economy will expand by 5.5% in 2020 compared to 5.3% in 2019, as reported by Bloomberg.
