HomeAfricaTogo envisages 1.7% growth rate in 2009

Togo envisages 1.7% growth rate in 2009

Togo’s current financial situation, which has shown a steady improvement, will enable the country attain a growth rate of 1.7% in 2009 as ag a inst the 1.1% in 2008, according to a team from the International Monetary Funds (IMF) which was in Lome recently.

The forecast, according to the IMF, is due to the improvement in the collection of receipts and economic reforms carried out by the country.

Togo, which is committed to an IMF-sanctioned project (Ease for Poverty Reductio n and Growth), hopes to reach a completion point in 2010, after which it will be entitled to debt relief under the Initiative of Poor Countries in Debt.

The IMF said Togo’s weak economic growth rate of 1.1% in 2008 must have been cau sed by the negative impact of the high prices of foodstuffs and oil and by the s e rious floods which damaged roads, infrastructures, subsistence production and pa r alysed trade.

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