IMF approves the disbursement of US$14 million

25/11/2009
IMF approves the disbursement of US$14 million

The Executive Board of the International Monetary Fund (IMF) has completed the third review of Togo's performance under its economic reform program supported by a three-year Poverty Reduction and Growth Facility (PRGF) arrangement. The completion of the review was on a lapse of time basis1 on November 18, 2009 and enabled the Republic of Togo to draw an amount of SDR 8.8 million (around US$14 million) under the arrangement.

Togo met all of its quantitative and structural performance criteria under the PRGF-supported program, and implementation of its PRGF-supported program has been solid, especially considering the impact of the global recession, last year's global price shocks, and severe flooding in the country. Fiscal policies have been prudent, and good progress has been achieved in implementing key structural reforms.

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