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Blaise Ayao Amoussou-Kpeto criticizes IMF inconsistencies in Togo



The financial expert Blaise Ayao Amoussou-Kpeto, through a pertinent analysis, shows the hypocrisy that characterizes the structural adjustment plan of the International Monetary Fund (IMF), especially in Togo with the signature a few days ago of the Extended Credit Facility (FLEC). Read more!



The rhetoric of the IMF's structural adjustments is back. After Greece and more recently the countries of the BEAC zone, the cousin zone of the UEMOA in the area of ​​the Franc region, which is so much criticized at the moment, it is now my country, Togo, to suffer the dictates of the IMF. Yes, I had welcomed the signing of the agreement with the IMF which the Governing Board of this institution has just approved.

But against only US $ 241.5 of an extended credit facility (ECF) over three years, the IMF imposes on Togo its archaic and boring conditinities, instead of imposing clear conditions of good governance, better management of public finances And the fight against corruption, the IMF is calling for the audit of the two public banks UTB and BTCI and a study on tax evasion.

These two banks have been on a privatization program since 2008. As a result, they have been audited by major audit firms on behalf of the investors, but also by the UEMOA banking commission, the Gendarme des Banques and The BCEAO zone. All reports are available; What is the IMF still looking for with this back-pedaling condition?

For tax avoidance, there is no need for costly auditing, the tracks are there, clear to go straight to fraudsters and immediately bail out the state coffers. All public contracts are known even to those which have not been tendered. All the beneficiaries are therefore known, They received under these contracts can easily be traced back to the Treasury accounts or to the banks domiciliary of these markets. It is thus possible to know those public and private contractors who have not paid the taxes and taxes on the markets as well as all the funds that have been the subject of fraudulent transfers abroad.

For economic agents who have bought / sold for example real estate assets without paying taxes on capital gains, the traces are in the books of the banks. I have just done a lot of the audits that the IMF is asking for. What the IMF really seeks through these conditionalities, Another age?

I believe that the IMF must reform itself by seeking proactive and innovative conditions and going straight to the point by clearly defining the conditions for good governance and better public financial management for States to go At the end of their potential for growth and full employment. It is at this price that the world that will be left to future generations will be better.

Blaise Ayao Amoussou-Kpeto

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