Togo: Improvements in Debt Servicing Sustained in Q1 2024

Public finance
Wednesday, 04 September 2024 11:39
Togo: Improvements in Debt Servicing Sustained in Q1 2024

(Togo First) - Over the first quarter of 2024, Togo’s debt servicing stood at CFA269.17 billion, with 86% being domestic debt. The sum represents 40% of the debt servicing in 2023–CFA706 billion.

Debt servicing comprises all payments made by the country to meet the financial obligations associated with its borrowings, including repayment of principal (the initial amount borrowed) and interest payments. 

Principal repayments in Q1 2024 totaled CFA225.76 billion, against CFA553.05 billion throughout 2023. From 2022 to 2023, principal repayments surged 45.6%, reflecting strict public finance management despite added pressure on the State budget. 

Overall, Togo's total debt remained stable, going from CFA3,707 billion in 2023 to CFA3,740 billion at the end of Q1 2024.

Ayi Renaud Dossavi

 

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