-endedly. Overriding concerns for stability in West Africa in view of growing Islamist threats in neighbouring countries as well as Togo … surpassed the national budget. Concerning the relation of illegal financial transfers to GDP Togo was leading worldwide with 76 ….3% (2008 to 2013). The business climate improved considerably nevertheless. Although Togo still counted among low income …

moving south towards the four countries of interest of this paper (Côte d'Ivoire, Ghana, Senegal and Togo). At the time of …