The Minister of Economy and Finance, Adji Otéth Ayassor has been participating in the Spring Meetings of IMF and World Bank ,since the beginning of the week in Washington.
Once a pariah nation, Togo now enjoys all the attention from the Bretton Woods institutions. It must be said that the Togolese authorities have made a strong impression by reaching targets under the HIPC Initiative in record time which even surprised the IMF economists.
Relieved of virtually all of its foreign debt, the country still needs the support of IMF and WB. This opportunity at Washington is to discuss a new program for support and sector financing.
Republicoftogo.com : What is the interest of these bi-annual meetings of the IMF and the World Bank?
Adji Otéth Ayassor : These meetings are always an opportunity to continue discussions with the IMF and the World Bank and the prospects for cooperation on specific projects. A series of bilateral meetings were held for almost a week to take ensure the commitments of both institutions for our country.
For three years our relations with these two institutions have been excellent because Togo has scrupulously respected the road-map of the fiscal consolidation and a rigorous program on good governance. The IMF and the WB are all well aware that Togo has reached the completion point in record time.
Republicoftogo.com : The IMF estimates that growth in Africa is closely linked to infrastructure development. Do you agree with this analysis?
Adji Otéth Ayassor : Absolutely and that is why Togo has launched an ambitious program for the road rehabilitation and expansion of the Port of Lomé. There are also significant efforts in the agricultural sector. If all goes as planned, Togo could reach a growth rate of 5 to 6% in the next two years.
For 2011, it will be around 4% but we expect a little more.
In short, we are on track with the same determination.
Photo : Adji Otéth Ayassor, Minister of Economy and Finance in front of the IMF head-quarters, on Friday