Burkina Faso: Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report
IMF Staff Country Reports, December 30, 2019
Source details
- Canonical URL
- Burkina Faso: Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report
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Bibliographic details
- Published: December 30, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513524610.002
Program implementation and conditionality
- Policies and reform implementation under the ECF-supported program have been satisfactory.
- All end-June 2019 quantitative performance criteria and indicative targets were met.
- All, but one, structural benchmarks were met throughout end-November 2019.
- Pending approval of the overall reform package, the authorities are committed to refrain from any new agreements on wages or allowances outside of the security sector.
Macroeconomic outlook and risks
- Economic growth remains resilient and is expected to stabilize at 6 percent in 2019 and over the medium term.
- Inflation is expected to be negative in 2019, owing to food price deflation following recent good harvests, and to rebound in 2020.
- The security crisis poses risks to the growth outlook and to the authorities’ reform agenda.
Fiscal and structural reforms
- Reforms to curb wage bill growth are advancing in some areas, including implementation of transitional measures to help bring down the wage bill relative to tax revenues.
- Progress toward the adoption of the overall reform package is limited.
Key themes and subject areas covered
- Debt sustainability analysis
- Expenditure
- External debt
- Public debt
- Revenue administration
International Monetary Fund. Burkina Faso: Third Review under the Extended Credit Facility Arrangement-Press Release; and Staff Report.
Content in this bundle
- Burkina Faso — Third Review Under the Extended Credit Facility Arrangement — Executive Summary