Burkina Faso Resident Representative Site
Resident Representative Office in Burkina Faso
This web page provides information in on the activities of the Office, views of the IMF staff, and the relations between Burkina Faso and the IMF. Additional information can be found on Burkina Faso and IMF country page, including official IMF reports and Executive Board documents in English and French that deal with Burkina Faso.
News and Highlights
The International Monetary Fund (IMF) today released the May 2011 Regional Economic Outlook: Sub-Saharan Africa. Ms. Antoinette Monsio Sayeh, Director of the IMF's African Department commented on the report's main findings:
With world recovery under way, Africa faces the twin challenges of reviving strong growth and reinforcing resilience to the economic shocks that regularly batter the continent, IMF officials say as Managing Director Dominique Strauss-Kahn embarks on a three-country visit to the region.
Dans un entretien avec le Bulletin du FMI en ligne, Mme Antoinette Sayeh, directrice du Département Afrique, a expliqué que depuis quelques années, l’Afrique a fait preuve d’une plus grande ouverture à l’initiative privée. Comme par ailleurs le climat des affaires est devenu plus attrayant, les investissements étrangers sont restés abondants.
Burkina Faso and The IMF
June 26, 2015
The IMF recently published a study on the world’s water resource management challenges. Co-author Laure Redifer says Burkina Faso is an example of how efficient water resource management can improve a country’s economic prospects.
Press Release: IMF Executive Board Completes Second and Third Reviews for Burkina Faso and Approves US$32.28 Million Disbursement
Regional Economic Outlook for Sub-Saharan Africa
Sub-Saharan Africa's economy is set to register another year of solid growth, although the expansion will be at the lower end of the range registered in recent years, mainly reflecting the severe impact of the sharp decline in oil prices on the region's oil exporters. In a context of tightening global financial conditions, the large fiscal and current account deficits that prevail in some countries could leave them vulnerable to a potential reduction in external financing. An uneven global recovery and domestic security-related challenges are also risks to the outlook. Against this backdrop, and beyond the immediate effects of the current shock, further progress toward diversification and structural transformation remains crucial to sustain high and inclusive growth, generate jobs for the rapidly growing young population, and foster integration into global value chains.
Building Resilience in Sub-Saharan Africa's Fragile States
Fragile states—states in which the government is unable to deliver basic services and security to the population—face severe and entrenched obstacles to economic and human development. While definitions of fragility and country circumstances differ, fragile states generally have a combination of weak and non-inclusive institutions, poor governance, low capacity, and constraints in pursuing a common national interest. As a result, these countries typically display an elevated risk of both political instability (including civil conflict), and economic instability (through a low level of public service provision, inadequate economic management, and difficulties to absorb or respond to shocks). Crises in such countries can also have significant adverse spillovers on other countries. In contrast, resilience can be defined as a condition where institutional strength, capacity, and social cohesion are sufficiently strong for the state to promote security and development and to respond effectively to shocks.
Pan-African Banking : Opportunities and Challenges for Cross-Border Oversight
Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.
IMF Opens Africa Training Institute in Mauritius
The International Monetary Fund (IMF) on June 26, 2014 opened the Africa Training Institute (ATI) in Ebene, Mauritius, adding an important regional center to a global network of centers helping to develop countries' policymaking capacity by transferring economic skills and best practices.