Highlights

  • In the face of the heightened protests in 2017, the Togolese economy recorded good economic performance. The growth rate of the GDP since 2015, remains above 5%. It is expected to remain at 4.4 percent in 2017 and 4.9 percent in 2018, driven mainly by public procurement, as well as agricultural production, mining and trade.
  • The Togolese Government is implementing an ambitious national investment program to support national demand.
  • Inflation remains under control at-0.8% on average in 2017, thanks to prudent monetary policy by the Central Bank (BCEAO) and the low level of food prices.
  • The budget deficit, which was at 8.1% of GDP in 2016, should be reduced to 0.3% in 2017.
  • The common external transactions deficit fell from 11.2% of GDP in 2015 to 7.8% in 2017, under the effect of an increase in exports and a weaker growth in imports.
  • Between 2011 and 2017, Togo gained 6 places in the Doing Business ranking from the 162nd place to the 156th, thanks to the reforms and investments made to improve the business climate.
  • Togo has a free trade zone with more than 60 companies having more than 12,000 employees and is a financial hub with a relatively high concentration of regional financial institutions.
  • The debt ratio of Togo reached 78.6% in 2017. The Government has signed a three-year economic agreement with the IMF, whose main goal is to restore the viability of public finances while maintaining the social sectors.

 

 

  2013 2014 2015 2016 2017 2018
GDP growth (%) 6.1 5.9 5.7 5.1 4.4 4.9
Investment rate* 29.6 27.9 32.2 32.7 25.9 29.0
Inflation rate (annual average) 1.8 0.2 1.8 0.9 -0.8 0.5
Budget deficit* -4.4 -3.3 -6.2 -8.1 -0.3 -0.2
Current balance, grants included* -13.2 -10.0 -11.2 -9.7 -7.8 -8.3
Overall debt* 55.7 60.4 72.2 81.6 78.6 75.6

Sources : BCEAO except the debt data provided by the IMF (Regional Economic outlook report, April 2018)
* in % of GDP 

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InstrumentDate of operationValue dateDeadlineAmount(millions of FCFA)More info
T-Bill 20/09/201923/09/2019--15 000More info | ScheduledTogo 20/09/2019
T-Bond 06/09/201909/09/2019--20 000More info | ScheduledTogo 06/09/2019
T-Bill 23/08/201926/08/201923/08/202020 000More info
canceled | Completed
Togo 23/08/2019
T-Bond 09/08/201913/08/201915/07/202220 000More info | CompletedTogo 09/08/2019
T-Bond 26/07/201929/07/201911/03/202420 000More info | CompletedTogo 26/07/2019
T-Bond 12/07/201915/07/201915/07/202220 000More info | CompletedTogo 12/07/2019
T-Bond 28/06/201901/07/201903/06/202220 000More info | CompletedTogo 28/06/2019
T-Bill 14/06/201917/06/201914/06/202020 000More info | CompletedTogo 14/06/2019
T-Bond 31/05/201903/06/201903/06/202215 000More info | CompletedTogo 31/05/2019
T-Bond 17/05/201920/05/201911/03/202420 000More info | CompletedTogo 17/05/2019
T-Bill 19/04/201923/04/201920/04/202020 000More info | CompletedTogo 19/04/2019
T-Bond 05/04/201908/04/201911/03/202220 000More info | CompletedTogo 05/04/2019
T-Bond
SI (Security 1)
08/03/201911/03/201911/03/202220 000More info | CompletedSI - Togo 08/03/2019
T-Bond
SI (Security 2)
08/03/201911/03/201911/03/202420 000More info | CompletedSI - Togo 08/03/2019
T-Bond 22/02/201925/02/201923/04/202115 000More info | CompletedTogo 22/02/2019
T-Bond 08/02/201911/02/201911/02/202220 000More info | CompletedTogo 08/02/2019
T-Bond 25/01/201928/01/201928/01/202220 000More info | CompletedTogo 25/01/2019
T-Bill 10/01/201911/01/201909/01/202020 000More info | CompletedTogo 10/01/2019
T-Bill 07/12/201810/12/2018--15 000More info
canceled | Completed
Togo 07/12/2018
T-Bill 23/11/201826/11/2018--20 000More info
canceled | Completed
Togo 23/11/2018
T-Bond 09/11/201812/11/2018--20 000More info
canceled | Completed
Togo 09/11/2018
T-Bond
SI (Security 3)
26/10/201829/10/201820/09/202050 000More info | CompletedSI - Togo 26/10/2018
T-Bond
SI (Security 4)
26/10/201829/10/201820/09/202250 000More info | CompletedSI - Togo 26/10/2018
T-Bill 12/10/201815/10/201813/10/201925 000More info | CompletedTogo 12/10/2018
T-Bond 14/09/201817/09/201817/09/202120 000More info
reported | Completed
Togo 14/09/2018
T-Bond 31/08/201803/09/201803/09/202120 000More info | CompletedTogo 31/08/2018
T-Bond
SI (Security 5)
20/07/201823/07/201823/07/202150 000More info | CompletedSI - Togo 20/07/2018
T-Bond
SI (Security 6)
20/07/201823/07/201823/07/202350 000More info | CompletedSI - Togo 20/07/2018
T-Bill 28/09/201801/10/201829/09/201920 000More info | CompletedTogo 28/09/2018
T-Bond 17/08/201820/08/201821/04/202020 000More info | CompletedTogo 17/08/2018
T-Bill 22/06/201825/06/201823/06/201920 000More info | CompletedTogo 22/06/2018
T-Bond 08/06/201806/11/201806/11/202120 000More info | CompletedTogo 08/06/2018
T-Bill 04/05/201807/05/201805/05/201920 000More info | CompletedTogo 04/05/2018
T-Bond 20/04/201823/04/201823/04/202115 000More info | CompletedTogo 20/04/2018
T-Bond 30/03/201803/04/201803/04/202320 000More info | CompletedTogo 30/03/2018
T-Bill 16/03/201819/03/201817/03/201920 000More info | CompletedTogo 16/03/2018
T-Bond 02/03/201805/03/201829/01/202120 000More info | CompletedTogo 02/03/2018
T-Bill 16/02/201819/02/201817/02/201920 000More info | CompletedTogo 16/02/2018
T-Bond 26/01/201829/01/201829/01/202115 000More info | CompletedTogo 26/01/2018
T-Bill 12/01/201815/01/201813/01/201915 000More info | CompletedTogo 12/01/2018
T-Bond 29/11/201730/11/201715/11/202015 000More info | CompletedTogo 29/11/2017
T-Bill 29/11/201730/11/201728/11/201815 000More info | CompletedTogo 29/11/2017
T-Bill 20/11/201721/11/201729/05/201815 000More info | CompletedTogo 20/11/2017
T-Bond 20/11/201721/11/201715/11/202015 000More info | CompletedTogo 20/11/2017
T-Bond 09/11/201715/11/201715/11/202025 000More info | CompletedTogo 09/11/2017
T-Bill 14/11/201715/11/201713/02/201825 000More info | CompletedTogo 14/11/2017
T-Bill 03/11/201706/11/201710/10/201825 000More info | CompletedTogo 03/11/2017
T-Bond 03/11/201706/11/201706/11/202025 000More info | CompletedTogo 03/11/2017
T-Bill 11/10/201712/10/201710/10/201825 000More info | CompletedTogo 11/10/2017
T-Bond 14/09/201720/09/201720/09/202030 000More info | CompletedTogo 14/09/2017
T-Bond 19/09/201720/09/201720/09/202430 000More info | CompletedTogo 19/09/2017
T-Bond 19/09/201720/09/201720/09/202230 000More info | CompletedTogo 19/09/2017
T-Bond 08/08/201709/08/201709/08/2024166 000More info | CompletedTogo 08/08/2017
T-Bill 17/07/201718/07/201716/10/201725 000More info | CompletedTogo 17/07/2017
T-Bond 04/07/201705/07/201705/07/202030 000More info | CompletedTogo 04/07/2017
T-Bond 04/07/201705/07/201705/07/202230 000More info | CompletedTogo 04/07/2017
T-Bill 30/05/201731/05/201729/05/201860 000More info | CompletedTogo 30/05/2017
T-Bond 30/05/201731/05/201731/05/202060 000More info | CompletedTogo 30/05/2017
T-Bill 22/05/201723/05/201720/11/201725 000More info | CompletedTogo 22/05/2017
T-Bill 22/05/201723/05/201721/08/201725 000More info | CompletedTogo 22/05/2017
T-Bond 22/05/201723/05/201721/04/202025 000More info | CompletedTogo 22/05/2017
T-Bond 20/04/201721/04/201721/04/202020 000More info | CompletedTogo 20/04/2017
T-Bond 08/02/201709/02/201709/02/202025 000More info | CompletedTogo 08/02/2017
T-Bill 05/01/201706/01/201706/07/201720 000More info | CompletedTogo 05/01/2017
T-Bond 15/12/201605/02/201605/02/202130 000More info | CompletedTogo 15/12/2016
T-Bond 20/10/201621/10/201615/07/202330 000More info | CompletedTogo 20/10/2016
T-Bill 29/09/201630/09/201627/09/201835 000More info | CompletedTogo 29/09/2016
T-Bond 14/07/201615/07/201615/07/202330 000More info | CompletedTogo 14/07/2016
T-Bill 25/05/201626/05/201623/05/201820 000More info | CompletedTogo 25/05/2016
T-Bond 25/04/201626/04/201626/04/201930 000More info | CompletedTogo 25/04/2016
T-Bill 30/03/201631/03/201628/03/201835 000More info | CompletedTogo 30/03/2016
T-Bill 16/03/201617/03/201614/09/201625 000More info | CompletedTogo 16/03/2016
T-Bond 04/02/201605/02/201605/02/202130 000More info | CompletedTogo 04/02/2016
T-Bill 13/01/201614/01/201611/01/201730 000More info | CompletedTogo 13/01/2016
T-Bill 03/12/201504/12/201530/11/201730 000More info | CompletedTogo 03/12/2015
T-Bond 19/11/201520/11/201520/11/202030 000More info | CompletedTogo 19/11/2015
T-Bill 08/10/201509/10/201506/10/201630 000More info | CompletedTogo 08/10/2015
T-Bill 23/07/201524/07/201520/07/201730 000More info | CompletedTogo 23/07/2015
T-Bond 09/07/201510/07/201510/07/202030 000More info | CompletedTogo 09/07/2015
T-Bill 08/04/201509/04/201506/04/201630 000More info | CompletedTogo 08/04/2015
T-Bond 03/03/201504/03/201504/03/202030 000More info | CompletedTogo 03/03/2015
T-Bill 11/02/201512/02/201510/02/201630 000More info | CompletedTogo 11/02/2015
T-Bond 29/01/201530/01/201530/01/201830 000More info | CompletedTogo 29/01/2015
T-Bill 14/01/201515/01/201515/07/201530 000More info | CompletedTogo 14/01/2015
T-Bill 10/12/201411/12/201409/12/201525 000More info | CompletedTogo 10/12/2014
T-Bond 13/11/201414/11/201414/11/201941 000More info | CompletedTogo 13/11/2014
T-Bill 13/10/201414/10/201412/10/201525 000More info | CompletedTogo 13/10/2014
T-Bond 17/07/201418/07/201418/07/201935 000More info | CompletedTogo 17/07/2014
T-Bill 20/05/201421/05/201417/02/201525 000More info | CompletedTogo 20/05/2014