Burkina Faso: Request for a Three-Year Arrangement Under the Extended Credit Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burkina Faso

Volume/Issue: Volume 2010 Issue 197
Publication date: July 2010
ISBN: 9781455207510
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Exports and Imports , Public Finance , Taxation - General , Public Policy - Social Services and Welfare , ISCR , CR , debt , real GDP , poverty reduction effort , ECF arrangement , reform agenda , cotton sector , tax reform strategy , Current spending , Global , West Africa

Summary

Performance under the last ECF-supported program was broadly satisfactory. The government has prepared a medium-term policy framework to consolidate recent progress, and enhance growth prospects and poverty reduction efforts. Burkina Faso’s risk of debt distress is high. Executive Directors suggest maintaining prudent borrowing policies. There are risks to the program, mostly linked to the economy’s vulnerability to weather related and terms-of-trade shocks. Burkina Faso has a good track record of policy and reform implementation in areas critical for macroeconomic stability and growth.