Burundi: Request for a 38-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burundi

July 25, 2023

Preview Citation

Format: Chicago

Burundi: Request for a 38-Month Arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burundi, (USA: International Monetary Fund, 2023) accessed December 21, 2024

Summary

Burundi is a fragile state with a history of political tensions and weak institutions. The country fell into a political and security crisis following late President Nkurunziza’s decision to run for a third term in 2015. The economic recovery that was underway in 2019 was slowed by the COVID-19 pandemic. More recently, the country’s economy has been weakened by spillovers of the war in Ukraine, with a double-digit inflation, and domestic shocks, including delayed rainfall and outbreaks of livestock fevers. Burundi has benefited from debt relief under the Catastrophe Containment and Relief Trust (SDR 17.96 million), a disbursement under the Rapid Credit Facility (SDR 53.9 million, 35 percent of quota), and the 2021 SDR allocation (SDR 147.6 million). The 2022 Article IV Consultation was completed in July 2022, the first Article IV since 2014.

Subject: Currency markets, External debt, Financial markets, Foreign exchange, International organization, Monetary policy, Public debt, Revenue administration

Keywords: Africa, Anchor inflation expectation, Burundian authorities, Coordination committee, Currency markets, East Africa, FX market liberalization, Global, Policy reform, Southern Africa, Year contract

Publication Details

Pages:

168
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/270
Stock No:

1BDIEA2023001
ISBN:

9798400249358
ISSN:

1934-7685

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