The Paris Club and Togo conclude a debt relief agreement

12/06/2008
The Paris Club and Togo conclude a debt relief agreement

Paris Club creditors agreed on 12 June 2008 with the Government of the Togolese Republic to alleviate its external public debt, following the approval by the International Monetary Fund (IMF) of a new arrangement under the Poverty Reduction and Growth Facility on 21 April 2008.

This agreement, concluded under the so called "Naples terms", leads to the immediate cancellation of US$ 347 million.On an exceptional basis, considering Togo's very limited capacity of payment further constrained by the sharp rise of commodities and food prices, and provided that this country continues to implement satisfactorily an IMF supported program, no payments are expected from Togo between 1st April 2008 and 31 March 2011.

Togo is committed to devote the resources that otherwise would have gone to Paris Club creditors to priority areas identified in the country's poverty reduction strategy paper. Togo is also committed to seek comparable treatment from non Paris Club creditors.

Paris Club creditor countries commended the reforms implemented by Togo and expressed their commitment to alleviate further its external public debt as soon as it reaches its decision point under the enhanced Heavily Indebted Poor Countries Initiative.

 

Commentaires

Loading comments ...

Loading comments ...

IL NE FALLAIT PAS MANQUER

Victoire de Prinz Lorenzo

Sport

Le boxeur togolais Prinz Lorenzo s'est imposé vendredi soir à Kara face au Bosniaque Milos Janjani.

Promotion de la culture de la transparence

Coopération

L'UE a annoncé vendredi le financement d’un nouveau programme de développement pour la préfecture d’Anié (région des Plateaux).

Akwaba !

Sport

4.000 sportifs et artistes venus de près de 80 pays participent à partir de vendredi aux VIIIe Jeux de la Francophonie à Abidjan.

L'Institut Tony Blair recrute

Développement

The Tony Blair Institute for Global Change, nouvellement créé, recrute un analyste junior pour le Togo.