Togo plans to clear all its domestic arrears in the next 10 years

Economic governance
Monday, 15 July 2019 13:27
Togo plans to clear all its domestic arrears in the next 10 years

(Togo First) - Togo will over the next 10 years clear all its domestic arrears, in line with its medium-term debt strategy. This amounts to XOF225.5 billion which is 10.3% of the country’s public debt.

Lomé plans to pay this year XOF35.4 billion, after having paid more than XOF50 billion in 2017 and XOF65 billion in 2018. This is good news for the private sector which is expected to contribute 65% of the funds needed by the country for its five-year national development plan.

Togo’s efforts to clear all its domestic arrears come after it committed, to the IMF, to progressively do so. Multiple measures were actually taken at the end of 2017, to prevent more arrears from piling up.

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