Extended Credit Facility: IMF Wraps Up Mission in Lomé
The International Monetary Fund (IMF) concluded its mission to Lomé on Friday, March 28, 2025, as part of the second review of Togo’s Extended Credit Facility (ECF) programme. The IMF announced that discussions will resume this month, during the IMF-World Bank Spring Meetings in Washington. Hans Weisfeld led the mission, which assessed macroeconomic developments in Togo since the first programme review completed in December 2024. The ECF programme, approved in March 2024, provides $390 million in concessional financial support. Upon approval, the IMF disbursed $68.3 million immediately, followed by a second disbursement of $58.7 million after the first review’s successful conclusion. In its press release, the IMF praised Togo’s progress. Real GDP growth reached 5.3% in 2024, while inflation dropped to an annual average of 2.8% by February 2025. Despite these achievements, the IMF urged Togo to focus on public revenue mobilisation, fiscal […]