Burkina Faso: Second Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

July 31, 2019

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Burkina Faso: Second Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso, (USA: International Monetary Fund, 2019) accessed December 21, 2024

Also available in: français

Summary

This paper discusses Burkina Faso’s Second Review of the Extended Credit Facility (ECF) Arrangement and Request for a Waiver of Nonobservance of a Performance Criterion. Performance under the ECF-supported program has been broadly satisfactory. Economic activity remains resilient in the face of increased security and social tension pressures. Growth in 2018 remained resilient as a bumper harvest more than compensated for a decline in nonagricultural gross domestic product growth. Burkina Faso continues to pursue its development goals, and further support from the international community to address security and development needs is important. Additional effort is required to create fiscal space to support further progress in priority areas of development. The authorities are taking steps to strengthen the implementation of the automatic fuel price adjustment mechanism while developing social safety nets for the most vulnerable. In this respect, greater transparency, improved communication and the avoidance of discretionary implementation of the mechanism are crucial.

Subject: Arrears, Budget planning and preparation, Credit, Expenditure, External debt, Money, Public financial management (PFM), Revenue administration

Keywords: Arrears, Budget planning and preparation, CR, Credit, Executive Board discussion, Global, Government, Government utilities bill, IMF's Extended Credit Facility, ISCR, Payment arrears, Reform package, Sub-Saharan Africa, Wage bill

Publication Details

Pages:

84
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/257
Stock No:

1BFAEA2019003
ISBN:

9781513509563
ISSN:

1934-7685

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