Togo’s domestic debt stands at FCFA320 billion, an official source said at the end of the cabinet meeting held here on Wednesday.
The figure emerged following an audit by KPMG at the request of the Togolese government.
Finance and Economy Minister Adjih Othéth Ayassor said that the government had agreed on the findings of the audit.
The domestic debt comprises mainly arrears accumulated since the 1990s.
Analysts said Togo’s adoption of an ambitious programme for reforms and economic recovery since 2007 has paved the way for better governance and a budgetary discipline, which a view to restoring trust among providers and improve the business climate