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714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Establish a modeling and forecasting unit at BoT. | 3 | 09/30/2015 | M | Introduced at R2. Macroeconomic rationale: To improve liquidity and inflation forecast and facilitate the shift to a price-based monetary framework. At R3, met. | 7 | 3 | 2015-09-30 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Carry out a study to determine an approach of setting the Lombard rate to make it more predictable (in order to enhance stability of the short-term interest rates) while consistent with the monetary policy stance and ensuring that the facility is not abused. | 4 | 09/30/2016 | NM | Introduced at R4. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates. At R5, Not met. With the decision to make more active use of a policy
rate in guiding monetary policy from 2017, the BoT proposes to link the Lombard rate to the policy rate. The focus now is in clarifying operational issues involved in the shift to interest
rate targeting. | 7 | 4 | 2016-09-30 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Prepare for the approval by the Bank of
Tanzania’s management, an operational
plan to implement an interest rate corridor,
describing the width of the corridor, the
market interest rate that is to be targeted,
and how open market operations are to be
conducted. | 5 | 02/28/2017 | M | Introduced at R5. At R6, Met. BoT staff presented operational details about the planned move to an interest rate-based framework to BoT management and the BoT’s Board, On January 27, the BoT’s Board approved the planned move later in the year. Preparations are underway for that move. | 7 | 5 | 2017-02-28 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Complete a review of the Bank of
Tanzania’s collateral framework, with the
aim of accepting government securities of
all maturities as eligible collateral for
accessing the BoT’s standing facilities and
windows. The review will include proposals
on calculating the discount on securities,
and discuss a timeline for implementation. | 6 | 03/31/2017 | M | Introduced at R5. At R6, met. The BoT decided to expand eligible collateral and has reviewed its Bank Law to see if any changes are needed. The BoT has also contacted the Attorney General’s office about their interpretation of the BoT Act in that regard. The BoT
is awaiting the response from the Attorney General. | 7 | 6 | 2017-03-31 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Issue operational guidelines for commercial banks outlining new principles for conducting monetary operations under a new interest rate-based monetary policy framework, setting rules for disseminating information on government securities’ auction results and overnight interest rates, and establishing eligibility criteria for banks’ access to standing facilities. | 7 | 12/31/2017 | MD | Introduced at R7, operational steps that are needed to move to an interest rate-based monetary policy framework. In progress: The BOT has prepared draft operational guidelines, which are expected to be operational by March 2018 in line with the expected move to an interest rate-based monetary policy framework. | 7 | 7 | 2017-12-31 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Expansion of eligible collateral by accepting government securities with longer remaining maturities (i.e.: over 90 days) for the BoT’s lending facilities | 8 | 12/31/2017 | M | Introduced at R7, to improve the functioning of the BoT’s lending facilities | 7 | 8 | 2017-12-31 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Introduce an electronic platform for the interbank market | 9 | 12/31/2017 | MD | Introduced at R7, to improve price discovery mechanism in the interbank market and enhance transparency of interbank transactions. In progress: the BOT has developed an electronic platform, a pilot test of which will begin in mid-January. | 7 | 9 | 2017-12-31 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 23.1 | 4.1. Pension reforms | Approve pension harmonization guidelines. | 1 | 09/30/2014 | M | Introduced at R0. Macroeconomic rationale: To limit contingent liabilities. | 7 | 1 | 2014-09-30 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Unify the Statutory Minimum Reserve and the clearing accounts that banks maintain at the BoT and implement partial reserve averaging for reserve requirements. | 1 | 04/30/2015 | MOD-DATE | Introduced at R1. Macroeconomic rationale: To reduce excessive volatilities in short term money market interest rates. At R2, Not met, in light of the decision to tighten liquidity following excessive volatility of the Shilling. Proposed to be rescheduled for end-2015. | 7 | 1 | 2015-04-30 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Unify the Statutory Minimum Reserve and the clearing accounts that banks maintain at the BoT and implement partial reserve averaging for reserve requirements. | 1 | 12/31/2015 | NM | At R2, rescheduled test date. At R3, ongoing. At R4, not met, expected to be implemented by end-June 2016 | 7 | 1 | 2015-12-31 | N/A | N/A | N/A | N/A |
714 | TANZANIA | 738 | PSI | 2014-07-16 | 2,014 | 2017-07-15 | 2,017 | 2018-01-15 | N/A | N/A | 2018-01-10 | P1 | R7 | L | SB | 26 | 7. Exchange systems and restrictions (current and capital) | Produce a study making recommendations on the use of foreign exchange swaps between commercial banks and banks’ NOP limit. | 1 | 06/30/2016 | NM | Introduced at R3. Macroeconomic rationale: To improve liquidity in the foreign exchange market. At R4, onging. At R5, Not met. The NOP limit was raised back to 7.5 percent of core
capital effective September 1, 2016, and the study on the use of FX swaps is expected to be completed by end-December 2016. | 7 | 1 | 2016-06-30 | N/A | N/A | N/A | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | PA | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit the FY2022/23 budget to Parliament
fully aligned with the program targets and the
macroeconomic framework | 1 | Program Prior Action | M | Improve fiscal management and
protect social spending. | 0 | 1 | 2023-09-23 | N/A | N/A | PA_20.80_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | SB | 20.3 | 1.3. Expenditure measures, including arrears clearance | Prepare and begin implementing a plan to clear all expenditure arrears. | 2 | 12/31/2022 | SB | Improve fiscal management, the business environment and reduce potential for corruption | 0 | 2 | 2022-12-31 | R0 | N/A | SB_20.30_2 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | SB | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Complete and publish the post-crisis audit of pandemic-related spending. | 1 | 12/31/2022 | SB | Improve fiscal management and enhancing economic governance | 0 | 1 | 2022-12-31 | R0 | N/A | SB_20.70_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | SB | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit the FY2023/24 Preliminary Budget draft to the Parliament with the statistical reclassification of Transfers to HESLB and the fee-free basic education program. | 1 | 02/28/2023 | SB | Improve fiscal management and official statistics, and enhance economic governance and transparency | 0 | 1 | 2023-02-28 | R0 | N/A | SB_20.80_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | SB | 21.1 | 2.1. Central bank operations and reforms | Publish the operational guidelines of the interest rate-based monetary policy
framework, including documentation and regulations on the use of standing facilities. | 2 | 06/30/2023 | SB | Enhance financial stability and transparency | 0 | 2 | 2023-06-30 | R0 | N/A | SB_21.10_2 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | SB | 23.2 | 4.2. Other social sector reforms (e.g., social safety nets, health and education) | Appoint additional 15,000 teachers for primary education to improve quality of education and reduce the student/teacher ratio, particularly in rural areas. And hire 10,000 additional health workers to address gaps. | 1 | 06/30/2023 | SB | Build human capital | 0 | 1 | 2023-06-30 | R0 | N/A | SB_23.20_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | The BoT will submit an amendment to the Banking and Financial Institutions Act (BAFIA) to the government to allow compliance with the requirements of capital adequacy as a step to the migration to Basel II/III risk-based
supervision standards. | 1 | 12/31/2022 | SB | Enhance financial stability and strengthen bank oversight | 0 | 1 | 2022-12-31 | R0 | N/A | SB_25.10_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2022-07-18 | P1 | R0 | E | SB | 29 | 10. Economic statistics (excluding fiscal and central bank transparency and similar measures) | Reconcile national accounts (NA) and BOP external sector data and publish revised NA historical data. | 1 | 06/30/2023 | SB | Improve GDP quality and transparency | 0 | 1 | 2023-06-30 | R0 | N/A | SB_29.00_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | PA | 20.3 | 1.3. Expenditure measures, including arrears clearance | Complete the verification of outstanding expenditure arrears | 1 | First Review Prior action | M | Improve fiscal management and the business environment. | 1 | 1 | 2023-09-23 | N/A | N/A | PA_20.30_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | PA | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit the FY2022/23 budget to Parliament
fully aligned with the program targets and the
macroeconomic framework | 1 | Program Prior Action | M | Improve fiscal management and
protect social spending. | 1 | 1 | 2023-09-23 | N/A | N/A | PA_20.80_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | The government will include a proposal in the FY2023/24
budget for indirect tax policy measures for 0.3 percent of GDP and
submit to Parliament. | 1 | 06/30/2023 | SB | Enhance revenue performance | 1 | 1 | 2023-06-30 | R1 | N/A | SB_20.10_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 20.2 | 1.2. Revenue administration, including customs | The Revenue Authority will interface its information technology
system with that of prioritized government institutions. | 1 | 12/31/2023 | SB | Enhance revenue performance | 1 | 1 | 2023-12-31 | R1 | N/A | SB_20.20_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 20.3 | 1.3. Expenditure measures, including arrears clearance | Prepare and begin implementing a plan to clear all expenditure arrears. | 2 | 12/31/2022 | M | Improve fiscal management, the business environment and reduce potential for corruption | 1 | 2 | 2022-12-31 | R0 | R1 | SB_20.30_2 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Complete and publish the post-crisis audit of pandemic-related spending. | 1 | 12/31/2022 | NM | Improve fiscal management and enhancing economic governance | 1 | 1 | 2022-12-31 | R0 | R1 | SB_20.70_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit the FY2023/24 Preliminary Budget draft to the Parliament with the statistical reclassification of Transfers to HESLB and the fee-free basic education program. | 1 | 02/28/2023 | NM | Improve fiscal management and official statistics, and enhance economic governance and transparency | 1 | 1 | 2023-02-28 | R0 | R1 | SB_20.80_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Publish the operational guidelines of the interest rate-based monetary policy
framework, including documentation and regulations on the use of standing facilities. | 2 | 06/30/2023 | SB | Enhance financial stability and transparency | 1 | 2 | 2023-06-30 | R0 | N/A | SB_21.10_2 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 21.2 | 2.2. Central bank auditing, transparency, and financial controls | The BoT will formalize and publish its forex intervention policy
stating the objectives, the triggers, the mechanism and modality
of the intervention. | 1 | 12/31/2023 | SB | Strengthen the transparency of
forex interventions | 1 | 1 | 2023-12-31 | R1 | N/A | SB_21.20_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 23.2 | 4.2. Other social sector reforms (e.g., social safety nets, health and education) | Appoint additional 15,000 teachers for primary education to improve quality of education and reduce the student/teacher ratio, particularly in rural areas. And hire 10,000 additional health workers to address gaps. | 1 | 06/30/2023 | SB | Build human capital | 1 | 1 | 2023-06-30 | R0 | N/A | SB_23.20_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | The BoT will submit an amendment to the Banking and Financial Institutions Act (BAFIA) to the government to allow compliance with the requirements of capital adequacy as a step to the migration to Basel II/III risk-based
supervision standards. | 1 | 12/31/2022 | M | Enhance financial stability and strengthen bank oversight | 1 | 1 | 2022-12-31 | R0 | R1 | SB_25.10_1 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | The government, in consultation with the IMF, will establish an
AML/CFT risk-based supervisory approach that: assigns a
supervisor for each sector (financial institutions and designated
non-financial businesses and professions), details a template
sectoral money-laundering terrorist financing risk assessment
methodology, establishes a template onsite and offsite
supervisory manual, and a supervisory plan for the highest risk
sectors. | 2 | 12/31/2023 | SB | Strengthen financial stability | 1 | 2 | 2023-12-31 | R1 | N/A | SB_25.10_2 | N/A |
834 | TANZANIA | 738 | ECF | 2022-07-18 | 2,022 | 2025-11-07 | 2,025 | N/A | N/A | N/A | 2023-04-24 | P1 | R1 | L | SB | 29 | 10. Economic statistics (excluding fiscal and central bank transparency and similar measures) | Reconcile national accounts (NA) and BOP external sector data and publish revised NA historical data. | 1 | 06/30/2023 | SB | Improve GDP quality and transparency | 1 | 1 | 2023-06-30 | R0 | N/A | SB_29.00_1 | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | PA | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit 2008 budget law to parliament in line with understandings with the mission. | 1 | Program Prior Action | M | At P1R0, met in Dec 2007. P1R0 macroeconomic rationale: To provide the basis for a transparent and consistent fiscal policy that aims for a balanced primary position, avoidance of new arrears, and higher growth-oriented and social spending. | 0 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | PA | 25.2 | 6.2. Restructuring and privatization of financial institutions | Change management and oversight of BTCI based on terms of reference prepared in consultation with the WAEMU Banking Commission. | 1 | Program Prior Action | M | At P1R0, met in Feb 2008. P1R0 macroeconomic rationale: To prevent further erosion of BTCI's (Togo's largest state-owned bank) capital and liquidity, to restore confidence in Togo's largest bank, and in the financial sector more broadly. | 0 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Prepare a review of the finances of the national electricity company (CEET), in consultation with the World Bank. | 1 | 12/31/2008 | SB | P1R0 macroeconomic rationale: To provide the information necessary for preparing energy sector reforms and deciding on 2009 budget allocations, as rising oil prices and regionwide electricity shortages have dampened economic growth and led to increasing demands for budget support to the energy sector. | 0 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Implement a new framework for monthly monitoring of budget execution, and report data for April-June 2008 based on a new template. | 2 | 08/31/2008 | SB | P1R0 macroeconomic rationale: To provide policymakers with a tool for making timely and informed spending decisions as they seek to achieve the budget objectives and mitigate the risk of fiscal slippages. | 0 | 2 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | SB | 21.1 | 2.1. Central bank operations and reforms | Adopt an action plan for introducing regular Treasury bill auctions in 2009. | 1 | 12/31/2008 | SB | P1R0 macroeconomic rationale: To develop the domestic securities market, promote financial sector development, improve treasury management, and avoid new budgetary arrears. | 0 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate restructuring of BTCI (Togo's largest state-owned bank), including by raising its capital through issuance of government securities. | 1 | 12/31/2008 | SB | P1R0 macroeconomic rationale: To support the financial rehabilitation of Togo's largest bank, prepare it for privatization, and set the conditions for sound financial sector development. | 0 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Initiate an audit of the phosphate sector, based on the competitive selection of an audit company, in consultation with the World Bank. | 1 | 08/31/2008 | SB | P1R0 macroeconomic rationale: To prepare the restructuring of Togo's traditionally largest export sector (currently operating at only one third of capacity), including by providing options for attracting a strategic investor. | 0 | 1 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Adopt a strategy and time table for clearing domestic arrears. | 1 | 12/31/2008 | PC | P1R0 macroeconomic rationale: To restore supplier confidence, facilitate the return to regular spending procedures, and allow a gradual reduction in the government's large stock of domestic arrears. | 0 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-04-21 | P1 | R0 | E | SPC | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Create a General Inspectorate of Finance under the responsibility of the Minister of Finance. | 1 | 08/31/2008 | PC | P1R0 macroeconomic rationale: To strengthen fiscal governance by introducing oversight, control, and transparency for all units handling public resources. | 0 | 1 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | PA | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit 2008 budget law to parliament in line with understandings with the mission. | 1 | Program Prior Action | M | At P1R0, met in Dec 2007. P1R0 macroeconomic rationale: To provide the basis for a transparent and consistent fiscal policy that aims for a balanced primary position, avoidance of new arrears, and higher growth-oriented and social spending. | 1 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | PA | 25.2 | 6.2. Restructuring and privatization of financial institutions | Change management and oversight of BTCI based on terms of reference prepared in consultation with the WAEMU Banking Commission. | 1 | Program Prior Action | M | At P1R0, met in Feb 2008. P1R0 macroeconomic rationale: To prevent further erosion of BTCI's (Togo's largest state-owned bank) capital and liquidity, to restore confidence in Togo's largest bank, and in the financial sector more broadly. | 1 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Reduce tax and customs exemptions and strengthen tax and customs control, including in the Free Economic Zone. | 1 | 06/30/2009 | SB | P1R1 macroeconomic rationale: To limit leakage of tax-exempt goods into the domestic economy, which distorts economic incentives and reduces fiscal revenues. | 1 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 20.3 | 1.3. Expenditure measures, including arrears clearance | Start implementing the domestic arrears clearance strategy by securitizing validated arrears to suppliers and setting up a mechanism for monitoring domestic debt. | 1 | 12/31/2009 | SB | P1R1 macroeconomic rationale: To move toward a sustainable debt position and prevent new arrears, as Togo regularizes its large stock of domestic arrears, starts servicing long-term regional bonds, and initiates short-term treasury bill auctions. | 1 | 1 | 2009-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Prepare a review of the finances of the national electricity company (CEET), in consultation with the World Bank. | 1 | 12/31/2008 | SB | P1R0 macroeconomic rationale: To provide the information necessary for preparing energy sector reforms and deciding on 2009 budget allocations, as rising oil prices and regionwide electricity shortages have dampened economic growth and led to increasing demands for budget support to the energy sector. | 1 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Implement a new framework for monthly monitoring of budget execution, and report data for April-June 2008 based on a new template. | 2 | 08/31/2008 | M | P1R0 macroeconomic rationale: To provide policymakers with a tool for making timely and informed spending decisions as they seek to achieve the budget objectives and mitigate the risk of fiscal slippages. | 1 | 2 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 21.1 | 2.1. Central bank operations and reforms | Adopt an action plan for introducing regular Treasury bill auctions in 2009. | 1 | 12/31/2008 | M | P1R0 macroeconomic rationale: To develop the domestic securities market, promote financial sector development, improve treasury management, and avoid new budgetary arrears. | 1 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Set up a structure and mechanism for managing the nonperforming loans (NPLs) that have been exchanged against government securities in the bank restructuring process. | 1 | 08/31/2009 | SB | P1R1 macroeconomic rationale: To recover part of the budgetary cost of securitizing of nonperforming loans (NPLs) and reduce the large stock of enterprise arrears and cross-debts. | 1 | 1 | 2009-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate restructuring of BTCI (Togo's largest state-owned bank), including by raising its capital through issuance of government securities. | 1 | 12/31/2008 | MOD-DATE | P1R0 macroeconomic rationale: To support the financial rehabilitation of Togo's largest bank, prepare it for privatization, and set the conditions for sound financial sector development. At P1R1 test date revised to 3/31/09. | 1 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate restructuring of BTCI (Togo's largest state-owned bank), including by raising its capital through issuance of government securities. | 1 | 03/31/2009 | SB | N/A | 1 | 1 | 2009-03-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate the process of identifying strategic investors for state-owned banks. | 2 | 12/31/2009 | SB | P1R1 macroeconomic rationale: To reduce risks to macroeconomic stability caused by Togo's large loss-making state-owned banks and support expansion of financial intermediation. | 1 | 2 | 2009-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Initiate an audit of the phosphate sector, based on the competitive selection of an audit company, in consultation with the World Bank. | 1 | 08/31/2008 | MOD-DATE | P1R0 macroeconomic rationale: To prepare the restructuring of Togo's traditionally largest export sector (currently operating at only one third of capacity), including by providing options for attracting a strategic investor. At P1R1 test date revised to 10/30/2008. | 1 | 1 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Initiate an audit of the phosphate sector, based on the competitive selection of an audit company, in consultation with the World Bank. | 1 | 10/30/2008 | SB | N/A | 1 | 1 | 2008-10-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Phosphate sector: Prepare a development strategy based on the results of the strategic audit. | 2 | 09/30/2009 | SB | P1R1 macroeconomic rationale: To promote transparency in the restructuring of the phosphate sector, which could generate additional exports of up to 10 percent of GDP at current world prices. | 1 | 2 | 2009-09-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Adopt a strategy and time table for clearing domestic arrears. | 1 | 12/31/2008 | PC | P1R0 macroeconomic rationale: To restore supplier confidence, facilitate the return to regular spending procedures, and allow a gradual reduction in the government's large stock of domestic arrears. | 1 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SPC | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Make operational a new Treasury structure based on WAEMU directives. | 1 | 06/30/2009 | PC | P1R1 macroeconomic rationale: To create a functioning Treasury that has adequate control and information over revenues, spending, and cash management to ensure timely payments, avoidance of arrears, and provide for real-time consistent budget execution data. | 1 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2008-09-22 | P1 | R1 | BLANK | SPC | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Create a General Inspectorate of Finance under the responsibility of the Minister of Finance. | 2 | 08/31/2008 | M | P1R0 macroeconomic rationale: To strengthen fiscal governance by introducing oversight, control, and transparency for all units handling public resources. At P1R1, decree adopted on July 23, 2008. The inspector general was appointed on August 29, 2008. | 1 | 2 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | PA | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit 2008 budget law to parliament in line with understandings with the mission. | 1 | Program Prior Action | M | At P1R0, met in Dec 2007. P1R0 macroeconomic rationale: To provide the basis for a transparent and consistent fiscal policy that aims for a balanced primary position, avoidance of new arrears, and higher growth-oriented and social spending. | 2 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | PA | 25.2 | 6.2. Restructuring and privatization of financial institutions | Change management and oversight of BTCI based on terms of reference prepared in consultation with the WAEMU Banking Commission. | 1 | Program Prior Action | M | At P1R0, met in Feb 2008. P1R0 macroeconomic rationale: To prevent further erosion of BTCI's (Togo's largest state-owned bank) capital and liquidity, to restore confidence in Togo's largest bank, and in the financial sector more broadly. | 2 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Reduce tax and customs exemptions and strengthen tax and customs control, including in the Free Economic Zone. | 1 | 06/30/2009 | SB | P1R1 macroeconomic rationale: To limit leakage of tax-exempt goods into the domestic economy, which distorts economic incentives and reduces fiscal revenues. | 2 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 20.3 | 1.3. Expenditure measures, including arrears clearance | Start implementing the domestic arrears clearance strategy by securitizing validated arrears to suppliers and setting up a mechanism for monitoring domestic debt. | 1 | 12/31/2009 | SB | P1R1 macroeconomic rationale: To move toward a sustainable debt position and prevent new arrears, as Togo regularizes its large stock of domestic arrears, starts servicing long-term regional bonds, and initiates short-term treasury bill auctions. | 2 | 1 | 2009-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Implement a new framework for monthly monitoring of budget execution, and report data for April-June 2008 based on a new template. | 1 | 08/31/2008 | M | P1R0 macroeconomic rationale: To provide policymakers with a tool for making timely and informed spending decisions as they seek to achieve the budget objectives and mitigate the risk of fiscal slippages. | 2 | 1 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Prepare a review of the finances of the national electricity company (CEET), in consultation with the World Bank. | 2 | 12/31/2008 | M | P1R0 macroeconomic rationale: To provide the information necessary for preparing energy sector reforms and deciding on 2009 budget allocations, as rising oil prices and regionwide electricity shortages have dampened economic growth and led to increasing demands for budget support to the energy sector.The preliminary report was submitted to the authorities and the World Bank in December 2008. The final report was concluded on February 12, 2009 and submitted to the World Bank. | 2 | 2 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 21.1 | 2.1. Central bank operations and reforms | Adopt an action plan for introducing regular Treasury bill auctions in 2009. | 1 | 12/31/2008 | M | P1R0 macroeconomic rationale: To develop the domestic securities market, promote financial sector development, improve treasury management, and avoid new budgetary arrears. | 2 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Set up a structure and mechanism for managing the nonperforming loans (NPLs) that have been exchanged against government securities in the bank restructuring process. | 1 | 08/31/2009 | SB | P1R1 macroeconomic rationale: To recover part of the budgetary cost of securitizing of nonperforming loans (NPLs) and reduce the large stock of enterprise arrears and cross-debts. Given the complexity of the operation, for which the IMF and World Bank are providing technical assistance, the timetable has been extended by four months. At P1R2, testdate is revised to 12/31/2009. [This revised date will be reflected at the time of the third review.] | 2 | 1 | 2009-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate restructuring of BTCI (Togo's largest state-owned bank), including by raising its capital through issuance of government securities. | 1 | 12/31/2008 | MOD-DATE | P1R0 macroeconomic rationale: To support the financial rehabilitation of Togo's largest bank, prepare it for privatization, and set the conditions for sound financial sector development. At P1R1 test date revised to 3/31/09. | 2 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate restructuring of BTCI (Togo's largest state-owned bank), including by raising its capital through issuance of government securities. | 1 | 03/31/2009 | M | Remarkable progress has been made in preparing the exchange of BTCI'S NPL against government securities as part of broader multibank scheme. | 2 | 1 | 2009-03-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate the process of identifying strategic investors for state-owned banks. | 3 | 12/31/2009 | SB | P1R1 macroeconomic rationale: To reduce risks to macroeconomic stability caused by Togo'slarge loss-making state-owned banks and support expansion of financial intermediation. | 2 | 3 | 2009-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Initiate an audit of the phosphate sector, based on the competitive selection of an audit company, in consultation with the World Bank. | 1 | 08/31/2008 | MOD-DATE | P1R0 macroeconomic rationale: To prepare the restructuring of Togo's traditionally largest export sector (currently operating at only one third of capacity), including by providing options for attracting a strategic investor. At P1R1 test date revised to 10/30/2008. | 2 | 1 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Initiate an audit of the phosphate sector, based on the competitive selection of an audit company, in consultation with the World Bank. | 1 | 10/30/2008 | M | Done late. After a delay due to the fact that only two firms responded to the initial call for expressions of interest, a second call was issued. The audit firm was selected and the work is underway. | 2 | 1 | 2008-10-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Phosphate sector: Prepare a development strategy based on the results of the strategic audit. | 3 | 09/30/2009 | SB | P1R1 macroeconomic rationale: To promote transparency in the restructuring of the phosphate sector, which could generate additional exports of up to 10 percent of GDP at current world prices. | 2 | 3 | 2009-09-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Adopt a strategy and time table for clearing domestic arrears. | 1 | 12/31/2008 | M | P1R0 macroeconomic rationale: To restore supplier confidence, facilitate the return to regular spending procedures, and allow a gradual reduction in the government's large stock of domestic arrears. | 2 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SPC | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Make operational a new Treasury structure based on WAEMU directives. | 1 | 06/30/2009 | PC | P1R1 macroeconomic rationale: To create a functioning Treasury that has adequate control and information over revenues, spending, and cash management to ensure timely payments, avoidance of arrears, and provide for real-time consistent budget execution data. | 2 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-04-21 | P1 | R2 | BLANK | SPC | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Create a General Inspectorate of Finance under the responsibility of the Minister of Finance. | 2 | 08/31/2008 | M | P1R0 macroeconomic rationale: To strengthen fiscal governance by introducing oversight, control, and transparency for all units handling public resources. At P1R1, decree adopted on July 23, 2008. The inspector general was appointed on August 29, 2008. | 2 | 2 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | PA | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit 2008 budget law to parliament in line with understandings with the mission. | 1 | Program Prior Action | M | At P1R0, met in Dec 2007. P1R0 macroeconomic rationale: To provide the basis for a transparent and consistent fiscal policy that aims for a balanced primary position, avoidance of new arrears, and higher growth-oriented and social spending. | 3 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | PA | 25.2 | 6.2. Restructuring and privatization of financial institutions | Change management and oversight of BTCI based on terms of reference prepared in consultation with the WAEMU Banking Commission. | 1 | Program Prior Action | M | At P1R0, met in Feb 2008. P1R0 macroeconomic rationale: To prevent further erosion of BTCI's (Togo's largest state-owned bank) capital and liquidity, to restore confidence in Togo's largest bank, and in the financial sector more broadly. | 3 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Reduce tax and customs exemptions and strengthen tax and customs control, including in the Free Economic Zone. | 1 | 06/30/2009 | M | P1R1 macroeconomic rationale: To limit leakage of tax-exempt goods into the domestic economy, which distorts economic incentives and reduces fiscal revenues. | 3 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 20.3 | 1.3. Expenditure measures, including arrears clearance | Start implementing the domestic arrears clearance strategy by securitizing validated arrears to suppliers and setting up a mechanism for monitoring domestic debt. | 1 | 12/31/2009 | SB | P1R1 macroeconomic rationale: To move toward a sustainable debt position and prevent new arrears, as Togo regularizes its large stock of domestic arrears, starts servicing long-term regional bonds, and initiates short-term treasury bill auctions. | 3 | 1 | 2009-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 20.3 | 1.3. Expenditure measures, including arrears clearance | Complete implementation of the strategy for clearing validated domestic arrears to private suppliers. | 2 | 03/31/2010 | SB | Introduced at R3. Rationale: To restore the confidence of suppliers and make it possible to reduce the substantial balance of domestic payments arrears owed by the government. | 3 | 2 | 2010-03-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Implement a new framework for monthly monitoring of budget execution, and report data for April-June 2008 based on a new template. | 1 | 08/31/2008 | M | P1R0 macroeconomic rationale: To provide policymakers with a tool for making timely and informed spending decisions as they seek to achieve the budget objectives and mitigate the risk of fiscal slippages. | 3 | 1 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Prepare a review of the finances of the national electricity company (CEET), in consultation with the World Bank. | 2 | 12/31/2008 | M | P1R0 macroeconomic rationale: To provide the information necessary for preparing energy sector reforms and deciding on 2009 budget allocations, as rising oil prices and regionwide electricity shortages have dampened economic growth and led to increasing demands for budget support to the energy sector.The preliminary report was submitted to the authorities and the World Bank in December 2008. The final report was concluded on February 12, 2009 and submitted to the World Bank. | 3 | 2 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Move towards a single Treasury account by surveying Treasury accounts in the commercial banks and the BCEAO; reduce the number of accounts by at least 30 percent. | 3 | 06/30/2010 | SB | Introduced at R3. Rationale: To closely monitor Treasury operations, as this is a key element of control ling the government’s cash flow operations. | 3 | 3 | 2010-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Simplify and reduce lag time in the public sector expenditure chain by eliminating redundant control points. | 4 | 06/30/2010 | SB | Introduced at R3. Rationale: To enhance the capacity for rapid execution of investment projects in the short term and the capacity to absorb foreign aid. | 3 | 4 | 2010-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 21.1 | 2.1. Central bank operations and reforms | Adopt an action plan for introducing regular Treasury bill auctions in 2009. | 1 | 12/31/2008 | M | P1R0 macroeconomic rationale: To develop the domestic securities market, promote financial sector development, improve treasury management, and avoid new budgetary arrears. | 3 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 23.1 | 4.1. Pension reforms | Conduct a financial and organizational audit of the CRT (Pension Fund of Togo) and begin an actuarial study of the institution. | 1 | 12/31/2010 | SB | Introduced at R3. Rationale: Establish an overall strategy for clearing the government's social debt of around 7 percent of GDP. | 3 | 1 | 2010-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 24.3 | 5.3. Price controls and marketing restrictions | Conduct a review of the oil price adjustment mechanism and submit it to the Council of Ministers. | 1 | 08/31/2010 | SB | Introduced at R3. Rationale: The oil sector accounts for about 7 percent of GDP and has important fiscal implications. | 3 | 1 | 2010-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Set up the nonperforming loan management mechanism and its operational support. | 1 | 12/31/2010 | SB | Introduced at R3. Rationale: To recover a part of the fiscal cost of securitizing NPLs and reduce the large stock of enterprises arrears and cross debts. | 3 | 1 | 2010-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Set up a structure and mechanism for managing the nonperforming loans (NPLs) that have been exchanged against government securities in the bank restructuring process. | 2 | 08/31/2009 | MOD-DATE | P1R1 macroeconomic rationale: To recover part of the budgetary cost of securitizing of nonperforming loans (NPLs) and reduce the large stock of enterprise arrears and cross-debts. Given the complexity of the operation, for which the IMF and World Bank are providing technical assistance, the timetable has been extended by four months. At P1R2, testdate is revised to 12/31/2009. [This revised date will be reflected at the time of the third review.] | 3 | 2 | 2009-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Set up a structure and mechanism for managing the nonperforming loans (NPLs) that have been exchanged against government securities in the bank restructuring process. | 2 | 12/31/2009 | SB | Test date revised from 8/31/2009.
At P1R3, underway with delay. Due to the complexity of the process, the structure will be created in December 2010 at the latest. | 3 | 2 | 2009-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate restructuring of BTCI (Togo's largest state-owned bank), including by raising its capital through issuance of government securities. | 1 | 12/31/2008 | MOD-DATE | P1R0 macroeconomic rationale: To support the financial rehabilitation of Togo's largest bank, prepare it for privatization, and set the conditions for sound financial sector development. At P1R1 test date revised to 3/31/09. | 3 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate restructuring of BTCI (Togo's largest state-owned bank), including by raising its capital through issuance of government securities. | 1 | 03/31/2009 | M | Remarkable progress has been made in preparing the exchange of BTCI'S NPL against government securities as part of broader multibank scheme. | 3 | 1 | 2009-03-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Initiate the process of identifying strategic investors for state-owned banks. | 3 | 12/31/2009 | SB | P1R1 macroeconomic rationale: To reduce risks to macroeconomic stability caused by Togo'slarge loss-making state-owned banks and support expansion of financial intermediation. | 3 | 3 | 2009-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | Advance on the privatization process for state-owned banks by issuing a final call for bids. | 4 | 09/30/2010 | SB | Introduced at R3. Rationale: To restore confidence in Togo's financial sector, reduce risks of recurrence of macroeconomic instabil ity linked to Togo's large loss-making state-owned banks, promote financial sector development and expand financial intermediation. | 3 | 4 | 2010-09-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Initiate an audit of the phosphate sector, based on the competitive selection of an audit company, in consultation with the World Bank. | 1 | 08/31/2008 | MOD-DATE | P1R0 macroeconomic rationale: To prepare the restructuring of Togo's traditionally largest export sector (currently operating at only one third of capacity), including by providing options for attracting a strategic investor. At P1R1 test date revised to 10/30/2008. | 3 | 1 | 2008-08-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Initiate an audit of the phosphate sector, based on the competitive selection of an audit company, in consultation with the World Bank. | 1 | 10/30/2008 | M | Done late. After a delay due to the fact that only two firms responded to the initial call for expressions of interest, a second call was issued. The audit firm was selected and the work is underway. | 3 | 1 | 2008-10-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SB | 30.2 | 11.2. Natural resource and agricultural policies (excl. public enterprises and pricing) | Phosphate sector: Prepare a development strategy based on the results of the strategic audit. | 3 | 09/30/2009 | NM | P1R1 macroeconomic rationale: To promote transparency in the restructuring of the phosphate sector, which could generate additional exports of up to 10 percent of GDP at current world prices. At P1R3, this is delayed. The strategy will be adopted by the Council of Ministers by December 2009. | 3 | 3 | 2009-09-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Adopt a strategy and time table for clearing domestic arrears. | 1 | 12/31/2008 | M | P1R0 macroeconomic rationale: To restore supplier confidence, facilitate the return to regular spending procedures, and allow a gradual reduction in the government's large stock of domestic arrears. | 3 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SPC | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Make operational a new Treasury structure based on WAEMU directives. | 1 | 06/30/2009 | M | P1R1 macroeconomic rationale: To create a functioning Treasury that has adequate control and information over revenues, spending, and cash management to ensure timely payments, avoidance of arrears, and provide for real-time consistent budget execution data. | 3 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
592 | TOGO | 742 | PRGF | 2008-04-21 | 2,008 | 2011-04-20 | 2,011 | N/A | N/A | N/A | 2009-11-25 | P1 | R3 | BLANK | SPC | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Create a General Inspectorate of Finance under the responsibility of the Minister of Finance. | 2 | 08/31/2008 | M | P1R0 macroeconomic rationale: To strengthen fiscal governance by introducing oversight, control, and transparency for all units handling public resources. At P1R1, decree adopted on July 23, 2008. The inspector general was appointed on August 29, 2008. | 3 | 2 | 2008-08-31 | N/A | N/A | N/A | N/A |
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