Burkina Faso: Ex Post Assessment of Longer-Term Program Engagement—An Update

IMF Staff Country Reports, July 24, 2013

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Canonical URL: Burkina Faso: Ex Post Assessment of Longer-Term Program Engagement—An Update

Discusses Burkina Faso’s ex-post assessment of longer-term program engagement.
Economic growth averaged 5.3 percent between 2007 and 2012 and fluctuated above regional standards.
Improvements in the agricultural sector, driven by authorities’ strong push for reforms and investments, mitigated the impact of unfavorable weather conditions.
Authorities responded to high commodity price pressure with temporary exemption from custom fees, value-added tax on basic products, sales of food at below market prices, and suspension of the automatic oil price mechanism.
Inflation has remained generally low since 2010, despite food shortages caused by the drought in 2011.

Agricultural sector:
- Authorities implemented strong reform measures and investments that improved sector resilience to unfavorable weather.
Commodity price and food security measures:
- Temporary exemption from custom fees.
- Temporary exemption from value-added tax on basic products.
- Sales of food at below market prices.
- Suspension of the automatic oil price mechanism.
Inflation and shocks:
- Inflation remained generally low since 2010 despite 2011 drought-induced food shortages.

Subjects: Expenditure, Fiscal policy, Poverty, Poverty reduction, Public financial management (PFM), Revenue administration
Keywords: broad money, Burkinabé authorities, capital expenditure, CR, debt management, debt relief, economic growth, fiscal policy, Global, government approval, ISCR, natural resources, Poverty reduction, private sector, Sub-Saharan Africa, West Africa