Who holds Togo’s external debt?

Public finance

Monday, 05 October 2020 17:31

(Togo First) - Togo’s external debt is mostly owed to commercial banks, Asian banks notably. The information is in a report recently published by the ministry of economy and finance.

The document, which covers the first half of 2020, indicates that the Eximbank of China, Eximbank of India, MUFG Bank (Japan), and Société Générale hold more than 50% of the West African nation’s external debt - CFA474 billion. This is more than outstanding multilateral loans which made up 46% (CFA430 billion) of the total external debt as of 30 June 2020.

Overall, Togo’s external debt is valued at about CFA936 billion. Respectively, Euro and dollar-denominated loans make up 26.7% and 19.6% of this sum. CFA-denominated loans (including the IMF’s SDR debt), on the other hand, represent 21.7% of the country’s total external debt.

Togo owes around CFA162 billion or 17.4% of its external debt to Chinese lenders.

Fiacre E. Kakpo

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