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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InstrumentAdditional detailsDate of operationValue dateDeadlineAmount(millions of FCFA)More infoStatus
T-Bill 27/11/202030/11/2020--20 000More info | ScheduledrealizedTogo 27/11/2020
T-Bond 13/11/202016/11/2020--15 000More info | ScheduledrealizedTogo 13/11/2020
T-Bond
SI (Security 1)
23/10/202026/10/202026/10/202525 000More info | CompletedrealizedSI - Togo 23/10/2020
T-Bond
SI (Security 2)
23/10/202026/10/202016/03/202725 000More info | CompletedrealizedSI - Togo 23/10/2020
T-Bill
SI (Security 3)
13/06/201714/06/201712/09/201725 000More info
canceled | Completed

canceled
SI - Togo 13/06/2017
T-Bill
SI (Security 4)
13/06/201714/06/201712/12/201725 000More info
canceled | Completed

canceled
SI - Togo 13/06/2017
T-Bond
SI (Security 5)
13/06/201714/06/201731/05/202025 000More info
canceled | Completed

canceled
SI - Togo 13/06/2017
T-Bill Bons Covid-1913/08/202014/08/202012/11/202070 000More info | CompletedrealizedTogo 13/08/2020
T-Bond 25/09/202028/09/202024/08/202525 000More info | CompletedrealizedTogo 25/09/2020
T-Bond 11/09/202014/09/202024/08/202325 000More info | CompletedrealizedTogo 11/09/2020
T-Bond
SI (Security 6)
21/08/202024/08/202024/08/202330 000More info | CompletedrealizedSI - Togo 21/08/2020
T-Bond
SI (Security 7)
21/08/202024/08/202024/08/202530 000More info | CompletedrealizedSI - Togo 21/08/2020
T-Bond
SI (Security 8)
10/08/202011/08/202011/08/202325 000More info | CompletedrealizedSI - Togo 10/08/2020
T-Bond
SI (Security 9)
10/08/202011/08/202011/08/202525 000More info | CompletedrealizedSI - Togo 10/08/2020
T-Bond
SI (Security 10)
10/07/202013/07/202013/07/202330 000More info | CompletedrealizedSI - Togo 10/07/2020
T-Bond
SI (Security 11)
10/07/202013/07/202013/07/202530 000More info | CompletedrealizedSI - Togo 10/07/2020
T-Bond 13/11/201414/11/201414/11/201941 000More info | CompletedrealizedTogo 13/11/2014
T-Bond 17/07/201418/07/201418/07/201935 000More info | CompletedrealizedTogo 17/07/2014
T-Bond 04/09/201405/09/201405/09/201930 000More info | CompletedrealizedTogo 04/09/2014
T-Bill 20/09/2019----15 000More info
canceled | Completed

canceled
Togo 20/09/2019
T-Bill 23/11/2018----20 000More info
canceled | Completed

canceled
Togo 23/11/2018
T-Bill 15/11/2019----20 000More info
canceled | Completed

canceled
Togo 15/11/2019
T-Bill 23/08/2019----20 000More info
canceled | Completed

canceled
Togo 23/08/2019
T-Bill Bons COVID-1914/05/202015/05/202013/08/2020108 000More info | CompletedrealizedTogo 14/05/2020
T-Bill 05/06/202008/06/202006/06/202120 000More info | CompletedrealizedTogo 05/06/2020
T-Bond 31/01/202003/02/202003/02/202325 000More info | CompletedrealizedTogo 31/01/2020
T-Bond 28/02/202002/03/202002/03/202525 000More info | CompletedrealizedTogo 28/02/2020
T-Bond 14/02/202017/02/202003/02/202325 000More info | CompletedrealizedTogo 14/02/2020
T-Bond 04/10/201907/10/201907/10/202220 000More info | CompletedrealizedTogo 04/10/2019
T-Bond 06/09/201909/09/201909/09/202420 000More info | CompletedrealizedTogo 06/09/2019
T-Bond 09/08/201913/08/201915/07/202220 000More info | CompletedrealizedTogo 09/08/2019
T-Bond 26/07/201929/07/201911/03/202420 000More info | CompletedrealizedTogo 26/07/2019
T-Bond 12/07/201915/07/201915/07/202220 000More info | CompletedrealizedTogo 12/07/2019
T-Bond 28/06/201901/07/201903/06/202220 000More info | CompletedrealizedTogo 28/06/2019
T-Bond 31/05/201903/06/201903/06/202215 000More info | CompletedrealizedTogo 31/05/2019
T-Bond 17/05/201920/05/201911/03/202420 000More info | CompletedrealizedTogo 17/05/2019
T-Bond 05/04/201908/04/201911/03/202220 000More info | CompletedrealizedTogo 05/04/2019
T-Bond 08/02/201911/02/201911/02/202220 000More info | CompletedrealizedTogo 08/02/2019
T-Bond 25/01/201928/01/201928/01/202220 000More info | CompletedrealizedTogo 25/01/2019
T-Bond 22/02/201925/02/201923/04/202115 000More info | CompletedrealizedTogo 22/02/2019
T-Bond 31/08/201803/09/201803/09/202120 000More info | CompletedrealizedTogo 31/08/2018
T-Bond 08/06/201811/06/201811/06/202120 000More info | CompletedrealizedTogo 08/06/2018
T-Bond 17/08/201820/08/201821/04/202020 000More info | CompletedrealizedTogo 17/08/2018
T-Bond 20/04/201823/04/201823/04/202115 000More info | CompletedrealizedTogo 20/04/2018
T-Bond 30/03/201803/04/201803/04/202320 000More info | CompletedrealizedTogo 30/03/2018
T-Bond 02/03/201805/03/201829/01/202120 000More info | CompletedrealizedTogo 02/03/2018
T-Bond 26/01/201829/01/201829/01/202115 000More info | CompletedrealizedTogo 26/01/2018
T-Bond 08/08/201709/08/201709/08/2024166 000More info | CompletedrealizedTogo 08/08/2017
T-Bond 08/02/201709/02/201709/02/202025 000More info | CompletedrealizedTogo 08/02/2017
T-Bond 15/12/201616/12/201605/02/202130 000More info | CompletedrealizedTogo 15/12/2016
T-Bond 20/10/201621/10/201615/07/202330 000More info | CompletedrealizedTogo 20/10/2016
T-Bond 14/07/201615/07/201615/07/202330 000More info | CompletedrealizedTogo 14/07/2016
T-Bond 25/04/201626/04/201626/04/201930 000More info | CompletedrealizedTogo 25/04/2016
T-Bond 04/02/201605/02/201605/02/202130 000More info | CompletedrealizedTogo 04/02/2016
T-Bond 19/11/201520/11/201520/11/202030 000More info | CompletedrealizedTogo 19/11/2015
T-Bond 09/07/201510/07/201510/07/202030 000More info | CompletedrealizedTogo 09/07/2015
T-Bond 03/03/201504/03/201504/03/202030 000More info | CompletedrealizedTogo 03/03/2015
T-Bond 29/01/201530/01/201530/01/201830 000More info | CompletedrealizedTogo 29/01/2015
T-Bill 13/01/201614/01/201611/01/201730 000More info | CompletedrealizedTogo 13/01/2016
T-Bill 23/07/201524/07/201520/07/201730 000More info | CompletedrealizedTogo 23/07/2015
T-Bill 08/04/201509/04/201506/04/201630 000More info | CompletedrealizedTogo 08/04/2015
T-Bill 10/12/201411/12/201409/12/201525 000More info | CompletedrealizedTogo 10/12/2014
T-Bill 14/01/201515/01/201515/07/201530 000More info | CompletedrealizedTogo 14/01/2015
T-Bill 13/10/201414/10/201412/10/201525 000More info | CompletedrealizedTogo 13/10/2014
T-Bill 20/05/201421/05/201417/02/201525 000More info | CompletedrealizedTogo 20/05/2014
T-Bill 17/04/201418/04/201416/04/201530 000More info | CompletedrealizedTogo 17/04/2014
T-Bill 16/01/201417/01/201415/01/201525 000More info | CompletedrealizedTogo 16/01/2014
T-Bill 17/04/202020/04/202018/04/202120 000More info | CompletedrealizedTogo 17/04/2020
T-Bill 17/01/202020/01/202017/01/202125 000More info | CompletedrealizedTogo 17/01/2020
T-Bill 14/06/201917/06/201914/06/202020 000More info | CompletedrealizedTogo 14/06/2019
T-Bill 19/04/201923/04/201920/04/202020 000More info | CompletedrealizedTogo 19/04/2019
T-Bill 10/01/201911/01/201909/01/202020 000More info | CompletedrealizedTogo 10/01/2019
T-Bill 12/10/201815/10/201813/10/201925 000More info | CompletedrealizedTogo 12/10/2018
T-Bill 28/09/201801/10/201829/09/201920 000More info | CompletedrealizedTogo 28/09/2018
T-Bill 22/06/201825/06/201823/06/201920 000More info | CompletedrealizedTogo 22/06/2018
T-Bill 04/05/201807/05/201805/05/201920 000More info | CompletedrealizedTogo 04/05/2018
T-Bill 16/03/201819/03/201817/03/201920 000More info | CompletedrealizedTogo 16/03/2018
T-Bill 16/02/201819/02/201817/02/201920 000More info | CompletedrealizedTogo 16/02/2018
T-Bill 12/01/201815/01/201813/01/201915 000More info | CompletedrealizedTogo 12/01/2018
T-Bill 11/10/201712/10/201710/10/201825 000More info | CompletedrealizedTogo 11/10/2017
T-Bill 17/07/201718/07/201716/10/201725 000More info | CompletedrealizedTogo 17/07/2017
T-Bill 29/09/201630/09/201627/09/201835 000More info | CompletedrealizedTogo 29/09/2016
T-Bill 16/03/201617/03/201614/09/201625 000More info | CompletedrealizedTogo 16/03/2016
T-Bill 25/05/201626/05/201623/05/201820 000More info | CompletedrealizedTogo 25/05/2016
T-Bill 30/03/201631/03/201628/03/201835 000More info | CompletedrealizedTogo 30/03/2016
T-Bill 03/12/201504/12/201530/11/201730 000More info | CompletedrealizedTogo 03/12/2015
T-Bill 08/10/201509/10/201506/10/201630 000More info | CompletedrealizedTogo 08/10/2015
T-Bill 11/02/201512/02/201510/02/201630 000More info | CompletedrealizedTogo 11/02/2015
T-Bond
SI (Security 12)
08/05/202011/05/202016/03/202335 000More info | CompletedrealizedSI - Togo 08/05/2020
T-Bond
SI (Security 13)
08/05/202011/05/202002/03/202535 000More info | CompletedrealizedSI - Togo 08/05/2020
T-Bond
SI (Security 14)
13/03/202016/03/202016/03/202350 000More info | CompletedrealizedSI - Togo 13/03/2020
T-Bond
SI (Security 15)
13/03/202016/03/202002/03/202550 000More info | CompletedrealizedSI - Togo 13/03/2020
T-Bond
SI (Security 16)
13/03/202016/03/202016/03/202750 000More info | CompletedrealizedSI - Togo 13/03/2020
T-Bond
SI (Security 17)
08/03/201911/03/201911/03/202220 000More info | CompletedrealizedSI - Togo 08/03/2019
T-Bond
SI (Security 18)
08/03/201911/03/201911/03/202420 000More info | CompletedrealizedSI - Togo 08/03/2019
T-Bond
SI (Security 19)
26/10/201829/10/201820/09/202050 000More info | CompletedrealizedSI - Togo 26/10/2018
T-Bond
SI (Security 20)
26/10/201829/10/201820/09/202250 000More info | CompletedrealizedSI - Togo 26/10/2018
T-Bond
SI (Security 21)
20/07/201823/07/201823/07/202150 000More info | CompletedrealizedSI - Togo 20/07/2018
T-Bond
SI (Security 22)
20/07/201823/07/201823/07/202350 000More info | CompletedrealizedSI - Togo 20/07/2018
T-Bill
SI (Security 23)
20/11/201721/11/201729/05/201815 000More info | CompletedrealizedSI - Togo 20/11/2017
T-Bond
SI (Security 24)
20/11/201721/11/201715/11/202015 000More info | CompletedrealizedSI - Togo 20/11/2017
T-Bill
SI (Security 25)
03/11/201706/11/201710/10/201825 000More info | CompletedrealizedSI - Togo 03/11/2017
T-Bond
SI (Security 26)
03/11/201706/11/201706/11/202025 000More info | CompletedrealizedSI - Togo 03/11/2017
T-Bond
SI (Security 27)
04/07/201705/07/201705/07/202030 000More info | CompletedrealizedSI - Togo 04/07/2017
T-Bond
SI (Security 28)
04/07/201705/07/201705/07/202230 000More info | CompletedrealizedSI - Togo 04/07/2017
T-Bill
SI (Security 29)
29/11/201730/11/201728/11/201815 000More info | CompletedrealizedSI - Togo 29/11/2017
T-Bond
SI (Security 30)
29/11/201730/11/201715/11/202015 000More info | CompletedrealizedSI - Togo 29/11/2017
T-Bill
SI (Security 31)
14/11/201715/11/201714/02/201825 000More info | CompletedrealizedSI - Togo 14/11/2017
T-Bond
SI (Security 32)
14/11/201715/11/201715/11/202025 000More info | CompletedrealizedSI - Togo 14/11/2017
T-Bond
SI (Security 33)
19/09/201720/09/201720/09/202030 000More info | CompletedrealizedSI - Togo 19/09/2017
T-Bond
SI (Security 34)
19/09/201720/09/201720/09/202230 000More info | CompletedrealizedSI - Togo 19/09/2017
T-Bond
SI (Security 35)
19/09/201720/09/201720/09/202430 000More info | CompletedrealizedSI - Togo 19/09/2017
T-Bill
SI (Security 36)
30/05/201731/05/201729/05/201860 000More info | CompletedrealizedSI - Togo 30/05/2017
T-Bond
SI (Security 37)
30/05/201731/05/201731/05/202060 000More info | CompletedrealizedSI - Togo 30/05/2017
T-Bond
SI (Security 38)
30/05/201731/05/201731/05/202860 000More info | CompletedrealizedSI - Togo 30/05/2017
T-Bill
SI (Security 39)
22/05/201723/05/201721/08/201725 000More info | CompletedrealizedSI - Togo 22/05/2017
T-Bill
SI (Security 40)
22/05/201723/05/201720/11/201725 000More info | CompletedrealizedSI - Togo 22/05/2017
T-Bond
SI (Security 41)
22/05/201723/05/201721/04/202025 000More info | CompletedrealizedSI - Togo 22/05/2017
T-Bill
SI (Security 42)
20/04/201721/04/201719/10/201720 000More info | CompletedrealizedSI - Togo 20/04/2017
T-Bond
SI (Security 43)
20/04/201721/04/201721/04/202020 000More info | CompletedrealizedSI - Togo 20/04/2017
T-Bill
SI (Security 44)
05/01/201706/01/201706/07/201720 000More info | CompletedrealizedSI - Togo 05/01/2017
T-Bond
SI (Security 45)
05/01/201706/01/201706/01/202020 000More info | CompletedrealizedSI - Togo 05/01/2017
T-Bond 14/09/201817/09/201817/09/202120 000More info
reported | Completed

reported
Togo 14/09/2018
T-Bond 18/05/201821/05/201821/04/202020 000More info
reported | Completed

reported
Togo 18/05/2018