After France, Switzerland and Japan, it's time for Italy to remove Togo's entire debt, which is 1.34 billion CFA francs.
The wipe off was made by Julio Guma, the Italian Ambassador in Lomé and Adji Otèth Ayassor, the Minister of Economy and Finance.
In December 2010, Rome had already given up on a portion of the debt representing approximately 7.5 million euros.
Mr Guma urged the government to continue economic reforms to stimulate growth.
The money saved by Togo will go to investments in priority sectors identified in the Poverty Reduction Strategy Document(PRSP).
ARTICLES SUR LE MÊME THÈME
Togo adopts a new constitution
Togolese lawmakers adopted a new constitution on Monday, moving the country from a presidential to a parliamentary system.
Promoting multi-alignment
The African Political Alliance (APA) was launched in May 2023 at the initiative of Togo, aiming to create an informal framework for cooperation among countries sharing the ideals of pan-Africanism and those determined to work towards a politically strong, independent, self-assured, and non-aligned Africa.
China to support Togo in safeguarding its sovereignty, security -Wang Yi
China will continue to firmly support Togo in safeguarding its sovereignty, security and development interests, China's Foreign Minister Wang Yi said.