Burkina Faso: Seventh Review Under the Extended Credit Facility Arrangement and Request for a New Three-Year Extended Credit Facility Arrangement

Author: International Monetary Fund. African Dept.

Volume/Issue: Volume 2014 Issue 043

Publication date: February 2014

ISBN: 9781475581584

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Topics covered in this book

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Economics- Macroeconomics , Public Finance , Natural Resources , ISCR , CR , authority , proceeds , gold export proceeds , AFW mission , revenue mobilization effort , Burkina Faso's authorities , Extended Credit Facility arrangement , exchange arrangement , Mining sector , Natural resources , Inclusive growth , West Africa , Africa , Global , Sub-Saharan Africa

Also of interest

Nepal

Republic of Congo : 2001 Article IV

Peru

Malawi

Summary

This paper discusses Burkina Faso’s Seventh Review Under the Extended Credit Facility (ECF) Arrangement and Request for a new Three-Year ECF Arrangement. Economic activity in Burkina Faso continued to grow at a brisk pace in 2013. Program performance remains strong. Revenue performance remains on target, but is no longer overshooting targets as in recent years, while spending execution is below target. Almost all program targets were met, including on net domestic financing and the fiscal balance. All structural benchmarks slated for completion in June and September were also met. The IMF staff supports completion of the seventh review of the current ECF arrangement and the authorities’ request for a new three-year ECF arrangement with access equivalent to 45 percent of quota.