Burkina Faso: Fourth & Fifth Reviews Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion & Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

November 18, 2020

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Burkina Faso: Fourth & Fifth Reviews Under the Extended Credit Facility Arrangement, Request for a Waiver of Nonobservance of Performance Criterion & Rephasing of Access-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso, (USA: International Monetary Fund, 2020) accessed November 23, 2024

Also available in: français

Summary

The security crisis is worsening and is leading to disruption of basic public services and an unprecedented humanitarian crisis. The Covid19 outbreak and the authority’s response to contain its spread further compounded the situation. Presidential and legislative elections are scheduled for November 2020. Outlook and risks. The economic impacts of the global and domestic measures to contain the spread of the COVID19 pandemic have been stronger than expected. Real GDP contracted by 1.4 percent and 8.6 percent (y-o-y) in the first and second quarters of 2020, respectively. The economic outlook remains uncertain, with growth expected to stand around -2.8 percent in 2020 (down from 6 percent forecast prior to the pandemic). Inflation is expected to pick up and reach 4.1 percent by end-2020. The fiscal deficit in 2020 is expected to widen to about 5.3 percent of GDP, to accommodate an effective response to the Covid19 and security shocks. The main risks to the outlook are the uncertainty surrounding the duration of the pandemic and the security crisis.

Subject: COVID-19, Debt sustainability analysis, Expenditure, External debt, Financial institutions, Health, Public debt, Securities

Keywords: Anti-corruption authority, COVID-19, CR, Debt sustainability analysis, ECF arrangement, ECF program performance, Global, IMF lending tracker, ISCR, Securities, Security shock, West Africa

Publication Details

Pages:

97
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/304
Stock No:

1BFAEA2020002
ISBN:

9781513561530
ISSN:

1934-7685

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