Burkina Faso: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

IMF Staff Country Reports, April 25, 2023

Source details

Canonical URL: Burkina Faso: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

Presents Burkina Faso’s Request for Disbursement under the Rapid Credit Facility (RCF).
Emergency financing provided under the Food Shock Window.
Objective: help Burkina Faso address urgent balance of payment needs related to the global food crisis and mitigate the impact of the food shock on the most vulnerable.

Authorities’ crisis response focuses on:
- providing immediate food assistance to affected households,
- preventing malnutrition and improving drinking water supply,
- protecting livestock and animal husbandry.
Plans to prepare progress reports and audits on:
- the implementation of the cash transfer program,
- all food emergency spending.

Identification and publication of the beneficial owners of entities awarded public procurement contracts related to measures to address the food crisis would be key.

The post-coronavirus disease 2019 economic recovery was disrupted by:
- deteriorating security conditions,
- political uncertainty,
- rising foodstuff prices because of Russia’s war in Ukraine.
These factors worsened the ongoing food crisis and weighed on the budget.
Economic recovery in 2023 will depend on:
- financing conditions,
- the security situation,
- efforts to mobilize domestic revenues to ensure priority public expenditure and public debt sustainability.