Togo has the confidence of the financial markets

 Togo has the confidence of the financial markets

For nearly two years, Marshall Mills (photo) was Mr.Togo at the International Monetary Fund (IMF). He stepped through the structural reforms undertaken by the government, and visited Lomé numerous times. Today, the IMF mission chief for Togo has called for new positions within the institution.
It is with the satisfaction of accomplishment that reflects the progress made by Togo in terms of good governance and the fight against corruption. "Togo has behaved as a very good student and the results are visible," says Mills during an interview in Washington at the Spring meetings of the IMF and World Bank. : What is the IMF's growth forecast for Togo?
Marshall Mills: They are around 4% this year, a little low. There is, however, a recovery and with continued structural reforms, we hope to achieve a higher rate next year. In terms of good governance, has Togo really made progress ?
Marshall Mills: In the management of public finances it is indisputable. This is also one area in which Togo has made the most progress in making good use of public resources.
It is clear that in comparison to the past, the Togolese authorities have made progress.
Sign of this new-found confidence, Togo's interest rates are the lowest in the sub-region for Treasury bills. It is a good indication of confidence in the financial markets. Togo benefited an 80% cancellation of its external debt, late last year. The risk is that the country might lend uncontrollably.
Marshall Mills: The Togolese authorities are fully aware of the need to maintain the sustainability of public debt, but at the same time, the country should get enough credit for making the necessary investments to grow.


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