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Togo - Joint World Bank-IMF Debt Sustainability Analysis (English)

This Debt Sustainability Analysis (DSA) confirms Togo’s moderate risk of external debt distress and high risk of overall public debt distress—unchanged from the previous DSA update published in October 2019. While the mechanical results point to a low risk of external debt distress, judgment was applied given domestic debt vulnerabilities; external debt distress is therefore considered to be moderate. The overall risk of debt distress is assessed as high considering that the present value (PV) of total public and publicly guaranteed (PPG) debt-to-GDP ratio breaches the debt distress benchmark through 2021 under the baseline scenario. This analysis highlights the need for sustained fiscal consolidation, improved debt management, and strong macroeconomic policies to reduce public debt to prudent levels over the medium term.

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Togo - Joint World Bank-IMF Debt Sustainability Analysis (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/836781594937297351/Togo-Joint-World-Bank-IMF-Debt-Sustainability-Analysis