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.
Details
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Document Date
2020/04/01
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Document Type
Board Report
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Report Number
150917
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2020/07/16
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Disclosure Status
Disclosed
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Doc Name
Togo - Joint World Bank-IMF Debt Sustainability Analysis
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Keywords
public debt; public sector debt; real gdp; domestic debt; current account deficit; Public and Publicly Guaranteed; total public debt; baseline scenario; real exchange rate depreciation; debt-creating flow; primary balance; fiscal consolidation; risk of debt; external debt indicator; contingent liability; contingent liabilities; external debt sustainability; nominal interest rate; external financing; debt service; debt management capacity; total external debt; social security fund; private sector activity; real interest rate; debt sustainability analysis; exchange rate change; debt dynamic; dollar term; primary deficit; alternative scenarios; natural disaster; market financing
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Citation
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