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c representation from the US: chief of mission: Ambassador Brenda Brown SCHOONOVER embassy: Rue Pelletier Caventou and Rue Vauban, Lome mailing address: B. P. 852, Lome telephone: 21 77 17, 21 29 91 through 21 29 94 FAX: 21 79 52 Flag description: five equal horizontal bands of green (top and bottom) alternating with yellow; there is a white five-pointed star on a red square in the upper hoist-side corner; uses the popular pan-African colors of Ethiopia @Togo:Economy Economy - overview: This small sub-Saharan economy is heavily dependent on both commercial and subsistence agriculture, which provides employment for 65% of the labor force. Cocoa, coffee, and cotton together generate about 30% of export earnings. Togo is self-sufficient in basic foodstuffs when harvests are normal, with occasional regional supply difficulties. In the industrial sector, phosphate mining is by far the most important activity, although it has suffered from the collapse of world phosphate prices and increased foreign competition. Togo serves as a regional commercial and trade center. The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has stalled. Political unrest, including private and public sector strikes throughout 1992 and 1993, jeopardized the reform program, shrunk the tax base, and disrupted vital economic activity. The 12 January 1994 devaluation of the currency by 50% provided an important impetus to renewed structural adjustment; these efforts were facilitated by the end of strife in 1994 and a return to overt political calm. Progress depends on following through on privatization, increased openness in government financial operations (to accommodate increased social service outlays), and possible downsizing of the military, on which the regime has depended to stay in place. Lack of aid, along with depressed cocoa prices, generated a 1% fall in GDP in 1998, with growth resuming in 1999. Assuming no deterioration of the political atmosphere, growth should rise to 5% a year in 2000-01. GDP: purchasing power parity - $8.6 billion (1999 est.) GDP - real growth rate: 4% (1999 est.) GDP - per capita: purchasing power parity - $1,700 (1999 est.) GDP - composition by sector: agriculture: 42% industry: 21% services: 37% (1997) Population below poverty line: 32% (1987-89 est.) Ho
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