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
IMF Staff Country Reports, 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
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Bibliographic details
- Published: July 31, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513509563.002
Program performance and overall assessment
- Performance under the ECF-supported program has been broadly satisfactory.
- The paper discusses the Second Review of the Extended Credit Facility (ECF) Arrangement and a Request for a Waiver of Nonobservance of a Performance Criterion.
- Additional effort is required to create fiscal space to support further progress in priority areas of development.
Economic activity and growth (2018)
- Economic activity remains resilient despite 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.
External support and development needs
- Burkina Faso continues to pursue its development goals.
- Further support from the international community to address security and development needs is important.
Fiscal policy and public financial management
- Additional effort is required to create fiscal space to support development priorities.
- Subject areas highlighted include: Arrears, Budget planning and preparation, Credit, Expenditure, External debt, Money, Public financial management (PFM), Revenue administration.
Fuel price mechanism and social protection
- The authorities are taking steps to strengthen the implementation of the automatic fuel price adjustment mechanism.
- The authorities are developing social safety nets for the most vulnerable.
- For the fuel price mechanism, the paper emphasizes the need for:
- greater transparency,
- improved communication, and
- avoidance of discretionary implementation.
Content in this bundle
- 1bfaea2019001