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Togo CLR Review FY08-17

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This is a validation of the Completion and Learning Review (CLR) for the World Bank Group’s (WBG) engagement in Togo covering two Interim Strategy Notes (ISNs) for the period, FY08-FY10; and FY12-13. In line with the CLR, IEG does not rate the overall development outcome and the WBG’s performance due to data limitations. After Togo became independent in 1960, income per capita almost doubled Show MoreThis is a validation of the Completion and Learning Review (CLR) for the World Bank Group’s (WBG) engagement in Togo covering two Interim Strategy Notes (ISNs) for the period, FY08-FY10; and FY12-13. In line with the CLR, IEG does not rate the overall development outcome and the WBG’s performance due to data limitations. After Togo became independent in 1960, income per capita almost doubled to reach $534 in 1980, driven by open and market oriented policies, a boom in phosphate prices and efforts towards a more effective public administration. However, these gains were reversed during the next two decades. In the 1980s, the country followed a more inward looking economic policy and, during the 1990s, it entered a period of political tension and economic instability. Togo fell into internal and external debt service arrears including with the World Bank. Political stability returned gradually beginning in the mid-2000s and the international development community returned. Economic growth during the last decade has averaged four percent. Despite a solid growth performance, poverty declined only slightly, from 61.7 percent in 2006 to 55.1 percent in 2015. Income per capita is yet to reach the level the country had achieved in 1980. Togo’s ranking in the Human Development Index has fallen from 95th out of 124 countries in 1980 to 166th out of 187 countries in 2013. Togo recently experienced negative macroeconomic developments that brought the share of public debt over GDP from 32 percent in 2010 to 80.8 percent in 2016 financed by both domestic and external borrowings. Successful efforts at increasing public revenues from 18.8 percent of GDP in 2013 to 21.0 percent in 2015 were not enough to cover fast-growing public investments on infrastructure. Efforts at bringing the fiscal accounts under control are underway. The Executive Board of the International Monetary Fund (IMF) approved on May 5, 2017, a new three-year arrangement for Togo under the Extended Credit Facility (ECF) for SDR176.16 million to support the country’s economic and financial reforms.

Azerbaijan - AZ Capital Markets Modernization

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Mauritius CLR Review FY07-15

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Mauritius is a small country of about 1.3 million people which evolved from a poor sugar economy at the time of independence in 1968 into a successful upper middle-income country today largely through trade-led development. While absolute poverty declined from 8.5 percent in 2007 to 6.9 percent in 2012, inequality has increased and the Gini coefficient rose from 0.34 to 0.37. Good economic Show MoreMauritius is a small country of about 1.3 million people which evolved from a poor sugar economy at the time of independence in 1968 into a successful upper middle-income country today largely through trade-led development. While absolute poverty declined from 8.5 percent in 2007 to 6.9 percent in 2012, inequality has increased and the Gini coefficient rose from 0.34 to 0.37. Good economic management has helped the country successfully weather several adverse external developments, but could not prevent a decline in GDP growth rates in recent years. Because good economic growth and rapid progress in human development went hand in hand in the past, both the government plans and the WBG's Country Partnership Strategy (CPS) agreed that the lowered growth rate was the country's main challenge. Hence, the main theme of the WBG strategy was to increase the competitiveness of the economy while protecting the vulnerable. The CPS was organized around the government's four focus areas (or pillars) of reform: (1) fiscal consolidation and improved public sector efficiency; (2) improving trade competitiveness; (3) improving the investment climate; and (4) democratizing the economy through participation, social inclusion and sustainability. At first, there was good synergy between the government reform plans and the CPS. However, the coalition government that came to power after 2010 slowed down the implementation of the reform agenda. The WBG was slow to recognize this and, hence, the WBG program was no longer as well aligned with the government agenda as in earlier years. On balance, IEG rates the overall development outcome as moderately satisfactory.

Africa - E Afr Trade & Transp Facil (FY06)

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Zambia - ZM-RRMP PHASE II APL

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Togo - TG-Priv Sec Development Support

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Tunisia - TN-Energy Efficiency

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Egypt, Arab Republic of - EG INTEGRATED SANITATION & SEWERAGE INFR

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Egypt, Arab Republic of - EG - Sanitation

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Azerbaijan - PUB INVST CAP BLDG

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