Togo Asks IMF to Conduct In-Depth Governance Review

The Togolese government has asked the International Monetary Fund (IMF) to conduct a comprehensive review of its systems.

The invitation marks a significant step in Togo’s ongoing reform agenda.

The diagnostic, which begins in August 2024, will assess the institutional frameworks related to corruption, public finance management, and the business regulatory environment.

The initiative aligns with commitments made under the IMF’s Extended Credit Facility (ECF) approved in 2024. It aims to support Togo’s efforts to improve transparency, mobilize domestic revenue, and enhance its investment climate.

According to the IMF, the assessment will benchmark Togo’s governance practices against international standards and help define future reform priorities.

Areas under scrutiny include public procurement procedures, asset declarations by high-ranking officials, transparency around beneficial ownership in public contracts, and the independence of oversight bodies.

“This diagnosis will form a basis for defining reform priorities and assessing gaps in relation to international best practices,” the IMF noted in a July 2025 update.

The results—expected to be publicly released—could lead to a reform action plan co-developed with international partners. If completed, Togo would be among the first Francophone West African nations to voluntarily undertake this form of governance assessment.

The government views the initiative as a strategic lever to attract private investment, particularly in logistics, agriculture, and energy. Togo’s recent improvement on the World Bank’s CPIA index also led to its reclassification by the IMF as having a “high debt capacity”—a positive signal for creditors and investors.

Source:Africa Publicity