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IMF says Togo is still credit-worthy vis-a-vis external debt

English.news.cn   2014-01-14 17:46:23

LOME, Jan. 14 (Xinhua) -- The International Monetary Fund (IMF) has released a report terming Togo as credit worthy on the short term as well as long term basis.

The IMF projections which were contained in the Monday's edition of a pro-government newspaper, Union pour la Patrie (Union for the Homeland), estimated that the country's external debt will remain viable based only on debt indicators.

The source said at the moment, the ratios of solvability and liquidity remain below the fixed reference rates.

By the end of 2013, Togo's total debt was estimated to be 911. 72 billion CFA Francs (about 2 billion U.S. dollars) divided into 71 percent external debt while 29 percent was internal debt.

It is projected that Togo does not face the risk of insolvency until the year 2033.

However, a source at the country's finance ministry said a slight drop in the servicing of the debts in the mid-term and long term could compromise the viability of the external debt.

The ministerial source affirmed that the viability of Togo's external debt had also been confirmed after the standardized sensitivity analyses.

Editor: Fu Peng
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