1. Our Togolese authorities thank Staff for the candid and constructive policy discussions held in the context of the 2019 Article IV Consultation and the Fourth Review under the Extended Credit Facility (ECF) arrangement. They also thank Management and the Executive Board for the support to their reform efforts. They highly value the Fund’s engagement and look forward to a continued close cooperation.
2. The fiscal consolidation and comprehensive reforms undertaken under the ECF program continue to help Togo making important strides in strengthening macroeconomic and financial stability, achieving debt reduction while promoting durable and more inclusive growth, despite a challenging domestic and external environment. The authorities are strongly committed to implementing their ambitious—Plan National de Développement, PND— launched officially in March 2019, with the aim to structurally transform the economy and achieve a stronger, more sustainable and inclusive growth, create jobs and improve social welfare.
3. The strong macroeconomic performance and structural reforms achieved by Togo since the last review is encouraging. Going forward, the authorities remain committed to their agenda. They request the completion of the 4th Review under the ECF arrangement; a waiver for non-observance of a performance criterion (PC) missed mainly due to a statistical recording problem and which does not affect the program objectives; as well as the modification of PCs to accommodate the correction of this recording problem and some urgent spending.