Burkina Faso: 2024 Article IV Consultation and First Review Under the Extended Credit Facility and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso
IMF Staff Country Reports, July 29, 2024
Source details
- Canonical URL
- Burkina Faso: 2024 Article IV Consultation and First Review Under the Extended Credit Facility and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso
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Bibliographic details
- Published: July 29, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400284274.002
Program performance and implementation
- Burkina Faso’s performance under the program has been positive.
- All quantitative performance criteria were met for the first review.
- All indicative targets but one were met for the first review.
- Most structural benchmarks for the first review were met; some structural benchmarks were implemented with delay.
- Authorities are progressing on fiscal consolidation efforts, structural reforms, and fiscal governance measures, and on creating fiscal space for priority spending.
Recent macroeconomic developments
- Growth accelerated in 2023 to 3.6 percent of gross domestic product, supported by a rebound in construction and expansion of the tertiary sector.
- Inflation significantly decreased.
- Fiscal and debt positions improved.
Outlook and projections
- Growth is projected at 5.5 percent in 2024.
- Growth remains below potential in the medium term.
- A lasting recovery is contingent on bringing security under control.
Risks and structural challenges
- Burkina Faso faces multiple development challenges, including:
- Heightened security conditions.
- Climate change.
- Food insecurity.
Content in this bundle
- 1bfaea2024001-print-pdf