Highlights

  • Over the period of implementation of the Strategy for Accelerated Growth and Employment Promotion (SCAPE, 2013-2017), the average annual growth rate of Togo reached 5.4%. It is estimated at 5.3% in 2019 after 4.9% one year earlier, in a context of controlled inflation with an average annual rate of 0.6% in 2019 compared 0.9% in 2018.  In 2020, Togo would report a growth rate of 1.3% and the inflation rate would reach 2.0%. This slowdown in activity is attributable to the adverse consequences of the COVID-19.
  • Pursuant to SCAPE, Togo has adopted a new development framework for the 2018-2022 period: the National Development Plan (PND 2018-2022). The PND intends to consolidate the achievements of SCAPE. It takes into account the residual challenges arising from SCAPE reviews and is in line with regional and international commitments of Togo.
  • The budget balance of Togo related to GDP was under the community program of 3.0% over the last three years. It would settle at 9.3% in 2020 against 1.1%, an increase of 8.2 points. The budget deficit should be contained in line with the community standard in 2021, due to the acceleration of growth.
  • The current account balance improved gradually over the 2015-2017 period in line with exports diversification and a smaller increase in imports. The current account deficit fell from 11.2 % of GDP in 2015 to 2.0 % of GDP in 2017, a decrease of 9.2 percentage points in 2 years. The current account deficit settled at 2.6 % of GDP in 2019 compared to 3.4% of GDP in 2018. It should increase in 1.7 points in 2020 to settle at 4.3% of GDP.
  • The measures taken by the Togolese government since 2017 to reduce the risk of refinancing and the weight of debt service in the budget should make it possible to reduce the debt rate from 81.4 % in 2016 to 70.9% in 2019. This commitment by the Togolese government is in line with the guidelines of the program concluded with the IMF over the 2017-2019 period under the Extended Credit Facility (FEC). In 2020, the debt rate should be under the community standard with a projected rate of 69.1%.

 

 

  2015 2016 2017 2018 2019 2020
Real GDP growth (%) 5.7 5.6 4.4 4.9 5.3 1.3
Inflation rate (annual average)  1.8 0.9 -0.2 0.9 0.6 2.0
Underlying budget balance/Nominal GDP (%)* -6.3 -8.2 -0.3 -0.8 -1.1 -9.3
Investment ratio* 32.2 32.0 23.6 25.3 26.3 22.0
Current balance, grants included* -11.2 -9.7 -2.0 -3.4 -2.6 -4.3
Overall debt* 72.1 81.4 76.0 76.2 70.9 69.1

Sources : BCEAO, February 2020. except overall debt (IMF, Regional Economic Outlook : sub-Saharan Africa, April 2020) * in % of GDP 

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IssuerInstrumentAdditional detailsDate of operationValue dateDeadlineMore infoStatus
TogoT-BondObligations de Relance (OdR)19/03/202122/03/202122/03/2028More info | CompletedrealizedTogo 19/03/2021
Togo
SI (Security 1)
T-BondObligations de Relance (OdR)05/03/202108/03/202108/03/2024More info | CompletedrealizedSI - Togo 05/03/2021
Togo
SI (Security 2)
T-BondObligations de Relance (OdR)05/03/202108/03/202122/02/2026More info | CompletedrealizedSI - Togo 05/03/2021
TogoT-BondObligations de Relance (OdR)19/02/202122/02/202122/02/2026More info | CompletedrealizedTogo 19/02/2021
Togo
SI (Security 1)
T-Bond22/01/202125/01/202125/01/2024More info | CompletedrealizedSI - Togo 22/01/2021
Togo
SI (Security 2)
T-Bond22/01/202125/01/202125/01/2026More info | CompletedrealizedSI - Togo 22/01/2021
Togo
SI (Security 3)
T-Bond22/01/202125/01/202125/01/2028More info | CompletedrealizedSI - Togo 22/01/2021
TogoT-Bill08/01/202111/01/202111/07/2021More info | CompletedrealizedTogo 08/01/2021
Togo
SI (Security 1)
T-Bond27/11/202030/11/202026/10/2025More info | CompletedrealizedSI - Togo 27/11/2020
Togo
SI (Security 2)
T-Bond27/11/202030/11/202016/03/2027More info | CompletedrealizedSI - Togo 27/11/2020
TogoT-Bond13/11/202016/11/2020--More info
canceled | Completed

canceled
Togo 13/11/2020
Togo
SI (Security 1)
T-Bond23/10/202026/10/202026/10/2025More info | CompletedrealizedSI - Togo 23/10/2020
Togo
SI (Security 2)
T-Bond23/10/202026/10/202016/03/2027More info | CompletedrealizedSI - Togo 23/10/2020
Togo
SI (Security 1)
T-Bill13/06/201714/06/201712/09/2017More info
canceled | Completed

canceled
SI - Togo 13/06/2017
Togo
SI (Security 2)
T-Bill13/06/201714/06/201712/12/2017More info
canceled | Completed

canceled
SI - Togo 13/06/2017
Togo
SI (Security 3)
T-Bond13/06/201714/06/201731/05/2020More info
canceled | Completed

canceled
SI - Togo 13/06/2017
TogoT-BillBons Covid-1913/08/202014/08/202012/11/2020More info | CompletedrealizedTogo 13/08/2020
TogoT-Bond25/09/202028/09/202024/08/2025More info | CompletedrealizedTogo 25/09/2020
TogoT-Bond11/09/202014/09/202024/08/2023More info | CompletedrealizedTogo 11/09/2020
Togo
SI (Security 1)
T-Bond21/08/202024/08/202024/08/2023More info | CompletedrealizedSI - Togo 21/08/2020
Togo
SI (Security 2)
T-Bond21/08/202024/08/202024/08/2025More info | CompletedrealizedSI - Togo 21/08/2020
Togo
SI (Security 1)
T-Bond10/08/202011/08/202011/08/2023More info | CompletedrealizedSI - Togo 10/08/2020
Togo
SI (Security 2)
T-Bond10/08/202011/08/202011/08/2025More info | CompletedrealizedSI - Togo 10/08/2020
Togo
SI (Security 1)
T-Bond10/07/202013/07/202013/07/2023More info | CompletedrealizedSI - Togo 10/07/2020
Togo
SI (Security 2)
T-Bond10/07/202013/07/202013/07/2025More info | CompletedrealizedSI - Togo 10/07/2020
TogoT-Bond13/11/201414/11/201414/11/2019More info | CompletedrealizedTogo 13/11/2014
TogoT-Bond17/07/201418/07/201418/07/2019More info | CompletedrealizedTogo 17/07/2014
TogoT-Bond04/09/201405/09/201405/09/2019More info | CompletedrealizedTogo 04/09/2014
TogoT-Bill20/09/2019----More info
canceled | Completed

canceled
Togo 20/09/2019
TogoT-Bill23/11/2018----More info
canceled | Completed

canceled
Togo 23/11/2018
TogoT-Bill15/11/2019----More info
canceled | Completed

canceled
Togo 15/11/2019
TogoT-Bill23/08/2019----More info
canceled | Completed

canceled
Togo 23/08/2019
TogoT-BillBons COVID-1914/05/202015/05/202013/08/2020More info | CompletedrealizedTogo 14/05/2020
TogoT-Bill05/06/202008/06/202006/06/2021More info | CompletedrealizedTogo 05/06/2020
TogoT-Bond31/01/202003/02/202003/02/2023More info | CompletedrealizedTogo 31/01/2020
TogoT-Bond28/02/202002/03/202002/03/2025More info | CompletedrealizedTogo 28/02/2020
TogoT-Bond14/02/202017/02/202003/02/2023More info | CompletedrealizedTogo 14/02/2020
TogoT-Bond04/10/201907/10/201907/10/2022More info | CompletedrealizedTogo 04/10/2019
TogoT-Bond06/09/201909/09/201909/09/2024More info | CompletedrealizedTogo 06/09/2019
TogoT-Bond09/08/201913/08/201915/07/2022More info | CompletedrealizedTogo 09/08/2019
TogoT-Bond26/07/201929/07/201911/03/2024More info | CompletedrealizedTogo 26/07/2019
TogoT-Bond12/07/201915/07/201915/07/2022More info | CompletedrealizedTogo 12/07/2019
TogoT-Bond28/06/201901/07/201903/06/2022More info | CompletedrealizedTogo 28/06/2019
TogoT-Bond31/05/201903/06/201903/06/2022More info | CompletedrealizedTogo 31/05/2019
TogoT-Bond17/05/201920/05/201911/03/2024More info | CompletedrealizedTogo 17/05/2019
TogoT-Bond05/04/201908/04/201911/03/2022More info | CompletedrealizedTogo 05/04/2019
TogoT-Bond08/02/201911/02/201911/02/2022More info | CompletedrealizedTogo 08/02/2019
TogoT-Bond25/01/201928/01/201928/01/2022More info | CompletedrealizedTogo 25/01/2019
TogoT-Bond22/02/201925/02/201923/04/2021More info | CompletedrealizedTogo 22/02/2019
TogoT-Bond31/08/201803/09/201803/09/2021More info | CompletedrealizedTogo 31/08/2018
TogoT-Bond08/06/201811/06/201811/06/2021More info | CompletedrealizedTogo 08/06/2018
TogoT-Bond17/08/201820/08/201821/04/2020More info | CompletedrealizedTogo 17/08/2018
TogoT-Bond20/04/201823/04/201823/04/2021More info | CompletedrealizedTogo 20/04/2018
TogoT-Bond30/03/201803/04/201803/04/2023More info | CompletedrealizedTogo 30/03/2018
TogoT-Bond02/03/201805/03/201829/01/2021More info | CompletedrealizedTogo 02/03/2018
TogoT-Bond26/01/201829/01/201829/01/2021More info | CompletedrealizedTogo 26/01/2018
TogoT-Bond08/08/201709/08/201709/08/2024More info | CompletedrealizedTogo 08/08/2017
TogoT-Bond08/02/201709/02/201709/02/2020More info | CompletedrealizedTogo 08/02/2017
TogoT-Bond15/12/201616/12/201605/02/2021More info | CompletedrealizedTogo 15/12/2016
TogoT-Bond20/10/201621/10/201615/07/2023More info | CompletedrealizedTogo 20/10/2016
TogoT-Bond14/07/201615/07/201615/07/2023More info | CompletedrealizedTogo 14/07/2016
TogoT-Bond25/04/201626/04/201626/04/2019More info | CompletedrealizedTogo 25/04/2016
TogoT-Bond04/02/201605/02/201605/02/2021More info | CompletedrealizedTogo 04/02/2016
TogoT-Bond19/11/201520/11/201520/11/2020More info | CompletedrealizedTogo 19/11/2015
TogoT-Bond09/07/201510/07/201510/07/2020More info | CompletedrealizedTogo 09/07/2015
TogoT-Bond03/03/201504/03/201504/03/2020More info | CompletedrealizedTogo 03/03/2015
TogoT-Bond29/01/201530/01/201530/01/2018More info | CompletedrealizedTogo 29/01/2015
TogoT-Bill13/01/201614/01/201611/01/2017More info | CompletedrealizedTogo 13/01/2016
TogoT-Bill23/07/201524/07/201520/07/2017More info | CompletedrealizedTogo 23/07/2015
TogoT-Bill08/04/201509/04/201506/04/2016More info | CompletedrealizedTogo 08/04/2015
TogoT-Bill10/12/201411/12/201409/12/2015More info | CompletedrealizedTogo 10/12/2014
TogoT-Bill14/01/201515/01/201515/07/2015More info | CompletedrealizedTogo 14/01/2015
TogoT-Bill13/10/201414/10/201412/10/2015More info | CompletedrealizedTogo 13/10/2014
TogoT-Bill20/05/201421/05/201417/02/2015More info | CompletedrealizedTogo 20/05/2014
TogoT-Bill17/04/201418/04/201416/04/2015More info | CompletedrealizedTogo 17/04/2014
TogoT-Bill16/01/201417/01/201415/01/2015More info | CompletedrealizedTogo 16/01/2014
TogoT-Bill17/04/202020/04/202018/04/2021More info | CompletedrealizedTogo 17/04/2020
TogoT-Bill17/01/202020/01/202017/01/2021More info | CompletedrealizedTogo 17/01/2020
TogoT-Bill14/06/201917/06/201914/06/2020More info | CompletedrealizedTogo 14/06/2019
TogoT-Bill19/04/201923/04/201920/04/2020More info | CompletedrealizedTogo 19/04/2019
TogoT-Bill10/01/201911/01/201909/01/2020More info | CompletedrealizedTogo 10/01/2019
TogoT-Bill12/10/201815/10/201813/10/2019More info | CompletedrealizedTogo 12/10/2018
TogoT-Bill28/09/201801/10/201829/09/2019More info | CompletedrealizedTogo 28/09/2018
TogoT-Bill22/06/201825/06/201823/06/2019More info | CompletedrealizedTogo 22/06/2018
TogoT-Bill04/05/201807/05/201805/05/2019More info | CompletedrealizedTogo 04/05/2018
TogoT-Bill16/03/201819/03/201817/03/2019More info | CompletedrealizedTogo 16/03/2018
TogoT-Bill16/02/201819/02/201817/02/2019More info | CompletedrealizedTogo 16/02/2018
TogoT-Bill12/01/201815/01/201813/01/2019More info | CompletedrealizedTogo 12/01/2018
TogoT-Bill11/10/201712/10/201710/10/2018More info | CompletedrealizedTogo 11/10/2017
TogoT-Bill17/07/201718/07/201716/10/2017More info | CompletedrealizedTogo 17/07/2017
TogoT-Bill29/09/201630/09/201627/09/2018More info | CompletedrealizedTogo 29/09/2016
TogoT-Bill16/03/201617/03/201614/09/2016More info | CompletedrealizedTogo 16/03/2016
TogoT-Bill25/05/201626/05/201623/05/2018More info | CompletedrealizedTogo 25/05/2016
TogoT-Bill30/03/201631/03/201628/03/2018More info | CompletedrealizedTogo 30/03/2016
TogoT-Bill03/12/201504/12/201530/11/2017More info | CompletedrealizedTogo 03/12/2015
TogoT-Bill08/10/201509/10/201506/10/2016More info | CompletedrealizedTogo 08/10/2015
TogoT-Bill11/02/201512/02/201510/02/2016More info | CompletedrealizedTogo 11/02/2015
Togo
SI (Security 1)
T-Bond08/05/202011/05/202016/03/2023More info | CompletedrealizedSI - Togo 08/05/2020
Togo
SI (Security 2)
T-Bond08/05/202011/05/202002/03/2025More info | CompletedrealizedSI - Togo 08/05/2020
Togo
SI (Security 1)
T-Bond13/03/202016/03/202016/03/2023More info | CompletedrealizedSI - Togo 13/03/2020
Togo
SI (Security 2)
T-Bond13/03/202016/03/202002/03/2025More info | CompletedrealizedSI - Togo 13/03/2020
Togo
SI (Security 3)
T-Bond13/03/202016/03/202016/03/2027More info | CompletedrealizedSI - Togo 13/03/2020
Togo
SI (Security 1)
T-Bond08/03/201911/03/201911/03/2022More info | CompletedrealizedSI - Togo 08/03/2019
Togo
SI (Security 2)
T-Bond08/03/201911/03/201911/03/2024More info | CompletedrealizedSI - Togo 08/03/2019
Togo
SI (Security 1)
T-Bond26/10/201829/10/201820/09/2020More info | CompletedrealizedSI - Togo 26/10/2018
Togo
SI (Security 2)
T-Bond26/10/201829/10/201820/09/2022More info | CompletedrealizedSI - Togo 26/10/2018
Togo
SI (Security 1)
T-Bond20/07/201823/07/201823/07/2021More info | CompletedrealizedSI - Togo 20/07/2018
Togo
SI (Security 2)
T-Bond20/07/201823/07/201823/07/2023More info | CompletedrealizedSI - Togo 20/07/2018
Togo
SI (Security 1)
T-Bill20/11/201721/11/201729/05/2018More info | CompletedrealizedSI - Togo 20/11/2017
Togo
SI (Security 2)
T-Bond20/11/201721/11/201715/11/2020More info | CompletedrealizedSI - Togo 20/11/2017
Togo
SI (Security 1)
T-Bill03/11/201706/11/201710/10/2018More info | CompletedrealizedSI - Togo 03/11/2017
Togo
SI (Security 2)
T-Bond03/11/201706/11/201706/11/2020More info | CompletedrealizedSI - Togo 03/11/2017
Togo
SI (Security 1)
T-Bond04/07/201705/07/201705/07/2020More info | CompletedrealizedSI - Togo 04/07/2017
Togo
SI (Security 2)
T-Bond04/07/201705/07/201705/07/2022More info | CompletedrealizedSI - Togo 04/07/2017
Togo
SI (Security 1)
T-Bill29/11/201730/11/201728/11/2018More info | CompletedrealizedSI - Togo 29/11/2017
Togo
SI (Security 2)
T-Bond29/11/201730/11/201715/11/2020More info | CompletedrealizedSI - Togo 29/11/2017
Togo
SI (Security 1)
T-Bill14/11/201715/11/201714/02/2018More info | CompletedrealizedSI - Togo 14/11/2017
Togo
SI (Security 2)
T-Bond14/11/201715/11/201715/11/2020More info | CompletedrealizedSI - Togo 14/11/2017
Togo
SI (Security 1)
T-Bond19/09/201720/09/201720/09/2020More info | CompletedrealizedSI - Togo 19/09/2017
Togo
SI (Security 2)
T-Bond19/09/201720/09/201720/09/2022More info | CompletedrealizedSI - Togo 19/09/2017
Togo
SI (Security 3)
T-Bond19/09/201720/09/201720/09/2024More info | CompletedrealizedSI - Togo 19/09/2017
Togo
SI (Security 1)
T-Bill30/05/201731/05/201729/05/2018More info | CompletedrealizedSI - Togo 30/05/2017
Togo
SI (Security 2)
T-Bond30/05/201731/05/201731/05/2020More info | CompletedrealizedSI - Togo 30/05/2017
Togo
SI (Security 3)
T-Bond30/05/201731/05/201731/05/2028More info | CompletedrealizedSI - Togo 30/05/2017
Togo
SI (Security 1)
T-Bill22/05/201723/05/201721/08/2017More info | CompletedrealizedSI - Togo 22/05/2017
Togo
SI (Security 2)
T-Bill22/05/201723/05/201720/11/2017More info | CompletedrealizedSI - Togo 22/05/2017
Togo
SI (Security 3)
T-Bond22/05/201723/05/201721/04/2020More info | CompletedrealizedSI - Togo 22/05/2017
Togo
SI (Security 1)
T-Bill20/04/201721/04/201719/10/2017More info | CompletedrealizedSI - Togo 20/04/2017
Togo
SI (Security 2)
T-Bond20/04/201721/04/201721/04/2020More info | CompletedrealizedSI - Togo 20/04/2017
Togo
SI (Security 1)
T-Bill05/01/201706/01/201706/07/2017More info | CompletedrealizedSI - Togo 05/01/2017
Togo
SI (Security 2)
T-Bond05/01/201706/01/201706/01/2020More info | CompletedrealizedSI - Togo 05/01/2017
TogoT-Bond14/09/201817/09/201817/09/2021More info
reported | Completed

reported
Togo 14/09/2018
TogoT-Bond18/05/201821/05/201821/04/2020More info
reported | Completed

reported
Togo 18/05/2018