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IMF report on the regional economic outlook for sub-Saharan Africa: Proposals for solutions in Togo

27/07/2022
Categories: General Information

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On July 21, 2022, Lomé hosted the presentation of the IMF report on the regional economic outlook for sub-Saharan Africa. This document suggests solutions for ending the crisis in Togo.

Maximilien Kaffo presented the measures proposed by the monetary institution of which he is the representative in Togo. As short-term solutions, the IMF suggests that the Togolese State help vulnerable groups in a targeted manner, increase interest rates to overcome inflation at the central bank level, and then act to manage the pressure on exchange rate. With regard to medium-term solutions, the Institution recommends diversifying investments. This is to ensure that we are not simply exporting commodities. It is therefore urgent to begin the process of transforming local products in order to reduce dependence on foreign products. The Togolese government is laying the foundations for 50% private investment by 2025.

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