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Economic activity shows incipient signs of stabilization in some sectors while it remains weak in others. The fiscal consolidation efforts continued and the domestic primary balance at end-June 2018 improved by 0.3 percent of GDP relative to the same period in 2017. Inflation has turned positive at 0.9 percent in September 2018 and is expected to remain below the WAEMU convergence criterion of up to 3 percent during the program period. The government is revisiting its strategy on the two public banks and is relaunching their privatization. The socio-political tensions have abated but the situation remains uncertain, particularly in light of the upcoming elections at end-2018.

Togo

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Les compétences occupent une place centrale dans le développement économique, social et humain des individus et des sociétés. Leur rôle est d’autant plus important pour une économie en développement comme le Togo, qui doit rapidement faire face à des difficultés majeures telles que l’ampleur de la pauvreté et de fortes inégalités alimentées par la prévalence d’activités peu productives dans le secteur informel et la faible création d’emplois décents.   Cette étude examine les principaux défis auxquels le système éducatif du Togo est confronté. Elle s’appuie sur la méthodologie développée par l’OCDE dans le cadre des stratégies nationales de compétences, et se focalise sur l’enseignement supérieur tout en tenant compte de l’ensemble du système éducatif et du marché du travail.   L’analyse couvre les enjeux principaux auxquels fait face le Togo quant à sa capacité à développer les compétences appropriées, à mobiliser les compétences sur le marché du travail, à utiliser les compétences efficacement et à renforcer la gouvernance de l’enseignement supérieur.    

Education, Higher --- Labor market --- Togo

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Togo’s macroeconomic situation remains difficult, despite some modest improvements. Despite the impact of the global recession, program implementation has generally been satisfactory, although corrective actions are necessary for recent slippages. Debt management and monitoring are being strengthened. In light of the difficult macroeconomic conditions, a countercyclical fiscal policy stance is required. Sustainable fiscal policy requires a gradual consolidation, as global conditions improve further. Togo’s main economic challenges are continuing to strengthen public finances and completing structural reforms to enhance growth potential.

Debts, Public -- Togo. --- Economic development -- Togo. --- Financial crises -- Togo. --- Fiscal policy -- Togo. --- Global Financial Crisis, 2008-2009. --- International Monetary Fund -- Togo. --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Financial crises --- Exports and Imports --- Financial Risk Management --- Macroeconomics --- Public Finance --- Fiscal Policy --- International Lending and Debt Problems --- National Government Expenditures and Related Policies: General --- Debt --- Debt Management --- Sovereign Debt --- Institutions and the Macroeconomy --- International economics --- Public finance & taxation --- Finance --- Budgeting & financial management --- Arrears --- Fiscal policy --- Fiscal stance --- Expenditure --- External debt --- Debts, External --- Expenditures, Public --- Debts, Public --- Togo --- Economic development

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This paper presents an analysis of the public investment scaling-up strategy for Togo using a dynamic macroeconomic model that explicitly analyzes the links between public investment, economic growth, and debt sustainability. In the model, public capital is productive and complementary to private capital, generating positive medium and long-run effects to increases in public investment. The model application indicates that a very large increase in public investment would have positive macroeconomic effects in the long-run, but would require unrealistic increases in the tax burden to cover recurrent costs and ensure debt sustainability. More modest increases in public investment would require more feasible increases in the tax burden, particularly if the efficiency of tax collection is improved. The model simulations also emphasize the importance of improvements in the efficiency of public investment to reap welfare gains. However, even if the macroeconomic implications of public investment scaling-up can be favorable in the long-run under certain assumptions on rates of return and efficiency of investment, the transition period is challenging and exposes the country to increased risk of unsustainable debt dynamics. The model was also used to assess the growth projections underlying the standard Excel-based debt sustainability analysis for Togo.

Public investments --- Debts, Public --- Fiscal policy --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Debts, Government --- Government debts --- National debts --- Public debt --- Public debts --- Sovereign debt --- Debt --- Bonds --- Deficit financing --- Government investments --- Investments, Public --- Expenditures, Public --- Investments --- Capital budget --- Economic development projects --- Investment of public funds --- Econometric models. --- Government policy --- Finance --- Togo --- Dēmokratia tou Tonko --- Gweriniaeth Togo --- Lýðveldið Tógó --- Pobblaght ny Togo --- Poblachd Thògo --- Poblacht Thóga --- Repubblica Togolese --- Republic of Togo --- República Togolesa --- Republik Togo --- Republik Togoat --- Republika Togo --- Republiḳat Ṭogo --- République autonome du Togo --- République du Togo --- République togolaise --- Tahaleskai︠a︡ rėspublika --- Tóga --- Togo Vabariik --- Togoanska republika --- Togoko Errepublika --- Togolese Republic --- Togolese Republiek --- Togolesische Republik --- Togoleska republika --- Togolezskai︠a︡ Respublika --- Togská republika --- Togu --- Toha --- Toḣlmudin Orn --- T'oko (Republic) --- Tonko --- Tʼóogo --- Toqo --- Τόγκο --- Δημοκρατία του Τόγκο --- Тагалеская рэспубліка --- Тоhлмудин Орн --- Тога --- Того --- Тогоанска република --- רפובליקת טוגו --- טוגו --- 토고 --- Togoland (French) --- Togoland --- Togoland (British) --- Economic conditions. --- Exports and Imports --- Macroeconomics --- Public Finance --- Institutions and Growth --- Fiscal Policy --- International Lending and Debt Problems --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Debt Management --- Sovereign Debt --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- International economics --- Public investment spending --- Public investment and public-private partnerships (PPP) --- Debt sustainability analysis --- Fiscal consolidation --- Expenditure --- External debt --- Public-private sector cooperation --- Debts, External --- Tax administration and procedure

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This Joint Staff Advisory Note (JSAN) reviews Togo's Interim-Poverty Reduction Strategy Paper (I-PRSP), which is aimed to strengthen political and economic governance, support economic recovery, and reduce poverty. The I-PRSP recognizes challenges to achieve the MDGs and the risks to its implementation and so paved the way for Poverty Reduction Growth Facility (PRGF) consideration. The JSAN urged the authorities to deepen the analysis on the links between growth policies and sectoral programs and expenditures and their impact on poverty reduction. Executive Directors also assessed the key PRSP implementation risks such as capacity constraints, political tensions, and adverse economic shocks.

Poverty --- Finance, Public --- Cameralistics --- Public finance --- Public finances --- Currency question --- Destitution --- Wealth --- Basic needs --- Begging --- Poor --- Subsistence economy --- Togo --- Dēmokratia tou Tonko --- Gweriniaeth Togo --- Lýðveldið Tógó --- Pobblaght ny Togo --- Poblachd Thògo --- Poblacht Thóga --- Repubblica Togolese --- Republic of Togo --- República Togolesa --- Republik Togo --- Republik Togoat --- Republika Togo --- Republiḳat Ṭogo --- République autonome du Togo --- République du Togo --- République togolaise --- Tahaleskai︠a︡ rėspublika --- Tóga --- Togo Vabariik --- Togoanska republika --- Togoko Errepublika --- Togolese Republic --- Togolese Republiek --- Togolesische Republik --- Togoleska republika --- Togolezskai︠a︡ Respublika --- Togská republika --- Togu --- Toha --- Toḣlmudin Orn --- T'oko (Republic) --- Tonko --- Tʼóogo --- Toqo --- Τόγκο --- Δημοκρατία του Τόγκο --- Тагалеская рэспубліка --- Тоhлмудин Орн --- Тога --- Того --- Тогоанска република --- רפובליקת טוגו --- טוגו --- 토고 --- Togoland (French) --- Togoland --- Togoland (British) --- Economic conditions. --- Social Services and Welfare --- Poverty and Homelessness --- Government Policy --- Provision and Effects of Welfare Program --- Education: General --- Health: General --- Welfare, Well-Being, and Poverty: General --- Social welfare & social services --- Education --- Health economics --- Poverty & precarity --- Poverty reduction strategy --- Health --- Poverty reduction