The economy of Togo has struggled greatly. The International Monetary Fund (IMF) ranks it as the tenth poorest country in the world, with development undercut by political instability, lowered commodity prices, and external debts. While industry and services play a role, the economy is dependent on subsistence agriculture, with industrialization and regional banking suffering major setbacks. In January 2017, the IMF signed an Extended Credit Facility arrangement, consisting of a three-year $238 million loan package. Progress depends on follow through on privatization, increased transparency in government financial operations, progress toward legislative elections, and continued support from foreign donors. Agriculture The majority of the Togolese population depends on subsistence agriculture. Its agricultural products includes coffee, cocoa, cotton, yams, cassava (tapioca), corn, beans, rice, pearl millet, sorghum and livestock such as fish. Food and cash crop production employs the majority of the labor force and contributes about 42% to the gross domestic product (GDP). Coffee and cocoa are traditionally the major cash crops for export, but cotton cultivation increased rapidly in the 1990s, with 173,000 metric tons produced in 1999. After a disastrous harvest in 2001 (113,000 metric tons), cash crops production rebounded to 168,000 metric tons in 2002. Despite insufficient rainfall in some areas, the Togolese Government has achieved its goal of self-sufficiency in food crops — maize, cassava, yams, sorghum, pearl millet, and groundnut. Small and medium-sized farms produce most of the food crop; the average farm size is one to three hectares. Togo produced in 2018: 1 million tons of cassava; 886 thousand tons of maize; 858 thousand tons of yam; 277 thousand tons of sorghum; 207 thousand tons of beans; 156 thousand tons of palm oil; 143 thousand tons of vegetable; 145 thousand tons of rice; 127 thousand tons of cotton; 43 thousand tons of peanut; 41 thousand tons of cocoa; 26 thousand tons of millet; 26 thousand tons of banana; 21 thousand tons of coffee; In addition to smaller productions of other agricultural products. Industry Mining In the industrial sector, phosphates are Togo's most important commodity, and the country has an estimated 60 million metric tons of phosphate reserves. From a high point of 2.7 million tons in 1997, production dropped to approximately 1.1 million tons in 2002. The fall in production is partly the result of the depletion of easily accessible deposits and the lack of funds for new investment. The formerly state-run company Société Nouvelle