Burkina Faso: 2007 Article IV Consultation, First Review Under the Poverty Reduction and Growth Facility, Request for Access Augmentation, Requests for Waivers of Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria: Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burkina Faso

IMF Staff Country Reports, May 28, 2008

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Burkina Faso: 2007 Article IV Consultation, First Review Under the Poverty Reduction and Growth Facility, Request for Access Augmentation, Requests for Waivers of Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria: Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burkina Faso

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Bibliographic details

• Published: May 28, 2008
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451803945.002

Executive summary and context

• Structural reforms and strong macroeconomic policies have promoted economic growth and low inflation over the past decade.
• Executive Directors welcomed these developments and encouraged the authorities to reduce the fiscal deficit and maintain fiscal and external debt sustainability.
• Grant financing is desirable to keep debt sustainable.
• Tax policy reform and adoption of the new cotton producer price mechanism were commended.

Major findings and assessments

• Macroeconomic outcomes highlighted:
  • Economic growth (unspecified magnitude) and low inflation over the past decade as outcomes of structural reforms and macroeconomic policies.
• Fiscal and external sector policy priorities:
  • Reduce the fiscal deficit.
  • Maintain fiscal sustainability.
  • Maintain external debt sustainability.
  • Ensure a sound fiscal policy and a prudent policy framework to improve external competitiveness.

Policy recommendations and program-related actions

• Fiscal policy:
  • Reduce the fiscal deficit.
  • Maintain a sound fiscal policy to support competitiveness and debt sustainability.
• Debt management:
  • Grant financing is desirable to keep debt sustainable.
• Structural reforms:
  • Continue tax policy reform and the cotton producer price mechanism implementation.
• Program administration:
  • Requests included: Access augmentation under the PRGF, waivers of nonobservance of performance criteria, and modification of performance criteria (as indicated by the report title).

Publication and metadata

• Publication date: May 28, 2008
• Series: Country Report No. 2008/168
• Issue: 168
• Volume: 2008
• Pages: 96
• DOI: https://doi.org/10.5089/9781451803945.002
• Stock No: 1BFAEA2008001
• ISBN: 9781451803945
• ISSN: 1934-7685
• Format availability: Full text also available in French; PDF available.
• Subjects: Agricultural prices, Balance of payments, Capital spending, Current account deficits, Current spending, Expenditure, Prices, Revenue administration, Tax administration core functions
• Keywords: Agricultural prices, Capital spending, cotton producer price mechanism, CR, Current account deficits, debt sustainability outlook, ISCR, PRGF arrangement, PRGF loan, reform agenda, SDR, Tax administration core functions, West Africa

International Monetary Fund. "Burkina Faso: 2007 Article IV Consultation, First Review Under the Poverty Reduction and Growth Facility, Request for Access Augmentation, Requests for Waivers of Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria: Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burkina Faso", May 28, 2008.

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