Togo / Clear advances in public finance management: The country is making progress under President Faure Gnassingbé’s governance
Under the leadership of President Faure Gnassingbé, Togo has made significant progress in managing its public finances, as reflected in the latest report from the Public Financial Management Performance Assessment (PEFA) Program, covering the period from 2019 to 2021.
The report highlights a clear improvement in budgeting practices and transparency, with 17 out of 31 indicators showing higher scores compared to the 2016 assessment. This progress reflects a rigorous and responsible management of public resources, which is crucial for achieving the country’s development goals.
The integration of gender and climate criteria into the PEFA 2023 has also allowed Togo to stand out as the first African country to include these dimensions in its evaluation. While there are areas for improvement, particularly in terms of supervision and external audits at the end of the budget cycle, the results are widely praised by international partners.
These advances come in a challenging global context, marked by health and geopolitical crises. However, according to Finance Minister Essowè Georges Barcola, the results achieved demonstrate that only rigorous public financial management will enable Togo to overcome these challenges and reduce poverty.
This report adds to the growing recognition of Togo’s economy, as evidenced by the positive evaluations from Moody’s and Standard & Poor’s, further strengthening investor and international partner confidence in Togo’s economic stability.
