Burundi: Seventh Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for a New Three-Year Arrangement Under the Extended Credit Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burundi
IMF Staff Country Reports, February 2, 2012
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- Burundi: Seventh Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for a New Three-Year Arrangement Under the Extended Credit Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burundi
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Bibliographic details
- Published: February 2, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463935825.002
Overview
- Publication date: February 2, 2012
- Core finding: Burundi’s economy has continued to grow at a slower pace than envisaged owing to the impact of food and fuel shocks on aggregate demand.
- Macroeconomic outlook: Described as broadly positive but subject to significant risks stemming from the security situation and the external environment.
Key findings and risks
- Growth drivers and headwinds:
- Continued slower-than-envisaged growth due to food and fuel shocks reducing aggregate demand.
- Principal risks highlighted:
- A decline in donor support, which could warrant an abrupt fiscal adjustment.
- A worsening in the security situation.
- Risk mitigants:
- Reforms that have improved revenue mobilization.
- Efforts in nation building.
Policy implications and reforms
- Fiscal vulnerability:
- A potential decline in donor support could force an abrupt fiscal adjustment, implying the need for contingency planning.
- Revenue mobilization:
- Reforms improving revenue mobilization are identified as an important mitigating factor against fiscal shocks.
- Nation building:
- Ongoing nation-building efforts are recognized as reducing some security-related risks to the macroeconomic outlook.
Subject areas and keywords
- Subject: Agricultural commodities, Commodities, Debt sustainability, External debt, Public debt, Public financial management (PFM)
- Keywords: Africa, Agricultural commodities, Burundian authorities, CR, customs authorities, debt, debt management policy, Debt sustainability, ECF arrangement, Global, government, growth prospect, ISCR, revenue mobilization effort