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Togo : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- International Development Association.
- Series:
- Debt and Creditworthiness Study.
- World Bank e-Library.
- Debt and Creditworthiness Study
- Language:
- English
- Subjects (All):
- Debt markets.
- External debt.
- Finance and financial sector development.
- Macroeconomic management.
- Macroeconomics and economic growth.
- Public debt.
- Public sector development.
- Local Subjects:
- Debt markets.
- External debt.
- Finance and financial sector development.
- Macroeconomic management.
- Macroeconomics and economic growth.
- Public debt.
- Public sector development.
- Other Title:
- Togo
- Place of Publication:
- Washington, D.C. : The World Bank, 2018.
- System Details:
- data file
- Summary:
- Togo's risk of external debt distress continues to be moderate with heightened overall risk of debt distress-unchanged from the previous Debt Sustainability Analysis (DSA) published in April 2017. Alternative scenarios and stress tests suggest, however, that external public debt could accumulate rapidly, pushing Togo above the external debt-distress threshold for the present value (PV) of public and publicly guaranteed (PPG) debt-to-GDP. Togo's domestic public debt burden remains high and reflects among others, persistently high deficits, materialized contingent liabilities and arrears accumulation. Baseline projections show that Togo's PV of total PPG debt (external plus domestic) -to-GDP ratio will reach the 38 percent benchmark by 2025, down from 73.1 percent in 2017 -with the bulk constituting domestic debt obligations. This analysis highlights the need for sustained fiscal consolidation, improved debt management, and macroeconomic policies to reduce the level of public debt to prudent levels over the medium term.
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