Africa > Togo

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International Monetary Fund. African Dept.
The WAEMU has, so far, demonstrated strong resilience to the Covid crisis. The economic rebound that started in the second half of 2020 firmed up in 2021, while fiscal and monetary policies remained supportive. External reserves have risen to comfortable levels and the financial system appears to be broadly sound. However, the region faces significant challenges to ensure the sustainability of macroeconomic policies, while supporting the economic recovery and navigating the uncertain outlook.
International Monetary Fund. African Dept.
The WAEMU has, so far, demonstrated strong resilience to the Covid crisis. The economic rebound that started in the second half of 2020 firmed up in 2021, while fiscal and monetary policies remained supportive. External reserves have risen to comfortable levels and the financial system appears to be broadly sound. However, the region faces significant challenges to ensure the sustainability of macroeconomic policies, while supporting the economic recovery and navigating the uncertain outlook.
International Monetary Fund. Statistics Dept.
A technical assistance (TA) mission led by Mr. Fahd Ndiaye, Resident Adviser in Real Sector Statistics for AFRITAC West, visited Lomé from January 27 to 31, 2020, to assess the national accounts for the new base year 2016 with the National Institute of Statistics and Economic and Demographic Studies. (INSEED). These accounts were prepared in accordance with the System of National Accounts 2008 (2008 SNA). The proceedings took the form of a workshop with representatives of the World Bank, the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB),the Statistical and Economic Observatory of Sub-Saharan Africa (AFRISTAT), the Commission of the West African Economic and Monetary Union (WAEMU) and the Central Bank of West African States (BCEAO). This report is largely based on the aide-memoire signed with the country and partners.
International Monetary Fund. African Dept.
This Selected Issues paper investigates state-owned financial institutions’ (SOFIs) performance in developing economies. It focuses on Sub-Saharan Africa, zooming in on the Togolese experience with SOFIs and privatization, at a time when the Togolese government has decided to further disengage from the financial sector. Typically set up with a public interest and financial inclusion mandate, SOFIs tend to weaken financial stability and fiscal discipline in developing economies, especially if they are not typically regulated and supervised on the same basis as other banks. Togo’s and cross-country experiences suggest that performance improves more after privatization when the government fully relinquishes control, when banks are privatized to strategic investors rather than through share issues, and when bidding is open to all, including foreign banks. The success of privatization also hinges on the business environment for competition, governance, and entry, on banks’ valuation and how policy concerns are dealt with, as well as on owner’s prudential review quality.