TOGO · DEBT
Key Facts
- —The country Togo is a small West African coastal state between Ghana and Benin, whose deep-water port in Lomé, the capital, anchors its economic plans.
- —What happened China agreed to cancel part of Togo’s public debt in a protocol signed in Beijing on Thursday 15 October 2026.
- —The amount Neither government has said how much will be written off, or which loans are covered.
- —Who signed Faure Gnassingbé, Togo’s head of government, and Chinese Premier Li Qiang presided over the signing, according to Bénin Web TV.
- —The exposure Togo’s debt to China’s Eximbank stood at 160.64 billion CFA francs (about US$274 million) at the end of 2025, says Togo First.
- —The package The cut in Togo’s debt was one of 13 agreements, covering customs, soybean exports, training and a new foreign ministry building.
- —Still open The size of the write-off, the loans it covers and the effect on Togo’s repayment calendar.
China cancels part of Togo’s debt under a protocol signed in Beijing on Thursday 15 October 2026, the official portal République Togolaise reported. The two governments have not said how much will be written off.
For US readers, the deal shows Beijing trading debt relief for closer ties with a small West African state that runs a major Atlantic port. It also lands as Washington and Beijing compete for influence along the Gulf of Guinea coast.
What Was Signed in Beijing
Faure Gnassingbé, President of the Council of Ministers, runs Togo’s government and ended a week-long visit to China on Friday 16 October. On Thursday he met Premier Li Qiang, China’s head of government, and the two sides signed several agreements.
The main text partly cancels Togo’s debt to China, République Togolaise said, and the sum is not disclosed. Togo First and Bénin Web TV, a Benin news site, both count 13 agreements in all.
How Much Does Togo Owe China
Togo First, a Lomé business site, says Togo owed China’s Eximbank 160.64 billion CFA francs (about US$274 million) at the end of 2025. That figure comes from the public debt report published in March 2026.
It equals 3.72% of Togo’s total public debt and 7.77% of its external debt. Eximbank was Togo’s largest external commercial creditor, with 24.39% of that category.
Two Counts of the Same Debt
République Togolaise and Bénin Web TV cite the International Monetary Fund, which put Togo’s debt to China near US$331 million at the end of 2024. That was nearly 5% of public debt and 3.5% of national output, mostly loans from Eximbank.
The IMF number is a year older and counted in dollars, while Togo First draws on the government’s own March 2026 debt report. Authorities have not said which of these loans the new protocol touches.
The Terms of the China Loans
According to the public debt report quoted by Togo First, Eximbank loans are denominated in US dollars and Chinese yuan. They run for 20 years, with a seven-year grace period and an interest rate of 2%.
Togo’s total public debt reached 4,312.64 billion CFA francs (about US$7.4 billion) at the end of 2025, or 61.65% of gross domestic product. A year earlier the ratio stood at 65.31%.
The Rest of the 13 Deals
Togo’s revenue office and China’s customs administration agreed on a trusted-trader scheme, so reliable companies can clear controls faster. A separate protocol sets the health rules that Togolese soybeans must meet to be sold in China.
The countries also agreed to work together on industry, supply chains, digital trade and green development. They exchanged notes on a new foreign ministry headquarters in Lomé, and Togo’s state broadcaster TVT signed two media memoranda.
A Visit Built Over Several Days
Gnassingbé’s trip ran from 9 to 16 October, and Xi Jinping received him on 13 October, as our earlier story shows. China and Togo raised ties to a comprehensive strategic partnership in September 2024.
Trade between the two countries reached US$5.4 billion in 2025, up about 55%, according to Togo First and Togo’s official portal. Earlier in the visit, China’s Shaanxi province and Togo’s Kara region signed a memorandum on cooperation between regions.
What It Means for US Readers
Lomé is a deep-water container hub that serves landlocked Sahel states, and a friendlier debt position with Beijing could deepen Chinese ties to that gateway. US firms that ship through Lomé or lend to Togo should watch whether any collateral or port terms follow the write-off.
Investors holding Togolese paper face a smaller Chinese claim, which could ease pressure on debt service and the budget. The relief is partial and its size is undisclosed, so credit analysts cannot yet price the gain.
What Is Not Known
The amount cancelled has not been disclosed, and neither side has said whether it covers the Eximbank loans or other Chinese claims. The effect on Togo’s debt repayment schedule depends on those details.
Neither government has published the terms of the protocol. Whether Togo promised anything in return is also unstated.
More: Africa news in English, every day from The Rio Times.
Frequently Asked Questions
Did China cancel all of Togo’s debt?
No, the protocol cancels only part of Togo’s debt to China. Neither government has said how much.
When was the debt deal signed?
It was signed in Beijing on Thursday 15 October 2026, during an official visit that ran from 9 to 16 October. The presidency of the Council announced it in a communiqué on 16 October.
How much does Togo owe China?
Togo First reports 160.64 billion CFA francs (about US$274 million) owed to Eximbank at the end of 2025. IMF data cited by Togolese media put the figure near US$331 million at the end of 2024.
Who is Faure Gnassingbé?
He is President of the Council of Ministers, the top executive post in Togo under the 2024 constitution. He has held it since May 2025.
What else did Togo and China sign?
The 13 agreements include a customs scheme for trusted traders and health rules for Togolese soybean exports. They also cover training, media exchanges and a new foreign ministry building in Lomé.
Sources: République Togolaise, 16 October 2026; Togo First, 26 October 2026; Bénin Web TV, 17 October 2026.
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error
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