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Togo to receive technical assistance from the International Monetary Fund (IMF) and the European Union (EU) in public finance management following an agreement with both partners, Xinhua told Xinhua Thursday. an official source in Lome
The documents to this effect were initialed on Tuesday by the Minister of Economy and Finance, Sani Yaya, the Chargé d'affaires ai of the EU Delegation to Togo, Vincent Vire, and Chief of Mission and Senior Economist in the IMF's Department of Public Finance, Lewis Murara
Togo has sealed this convention as it is engaged in a modernization of public financial management in accordance with the guidelines of the West African Economic and Monetary Union (WAEMU), which plans to align public financial management methods with international best practices.
Funded by the EU and implemented by the IMF, the project assistance aims to improve budget preparation, extend coverage and improve the quality of budget information, and strengthen treasury and public debt management.
Financial Management Technical Assistance Project public supports "the major reform projects undertaken by Togo in recent years," explained Lewis Murara.
"Good management of public funds is a fundamental cross-cutting aspect to ensure that revenues collected and Government and public bodies contribute fully and effectively to good economic and social development, "said Vincent Vire, Chargé d'affaires ai of the EU Delegation.
The Minister of the Economy and Finance of Togo Sani Yaya, he felt that greater transparency in budget information is essential for economic operators to and citizens are fully aware of the use of public funds and thus understand the importance and impact of their contributions to the national budget. End
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