Source: International Monetary Fund (IMF) |

Opening Remarks at Mobilizing with Africa II High-Level Virtual Event

We are here today because COVID-19 continues its assault on the health and wellbeing of people, and on the economy

By Managing Director Kristalina Georgieva As prepared for delivery Excellencies, Ministers, Ladies and Gentlemen—thank you for participating in this important event. I am honored to co-host with President Malpass. And I would like to recognize U.N. Secretary General Guterres and AU Commission Chair Moussa Faki Mahamat. We are here today…

Source: International Monetary Fund (IMF) |

International Monetary Fund Staff Concludes Visit to Burkina Faso

The overall fiscal deficit widened sharply in 2017 to 7.7 percent of GDP, an unprecedented level for Burkina Faso where fiscal deficits in recent years have typically ranged from 2 to 4 percent of GDP

Burkina Faso’s economy expanded by more than 6 percent per year on average during 2016-2017, showing considerable resilience in the face of security and weather-related shocks. The fiscal deficit widened sharply in 2017 because of a substantial increase in spending, mainly on investment, but also on wages and salaries. The…

Source: International Monetary Fund (IMF) |

Statement by IMF Deputy Managing Director Mitsuhiro Furusawa at the Conclusion of a Visit to Burkina Faso

Reforms to increase fiscal space would need to be pursued alongside investment scaling up

A new ECF arrangement in support of the country's economic and social development plan under discussion would aim to balance the scaling up of investment with maintaining macroeconomic stability. Reforms to increase fiscal space would need to be pursued alongside investment scaling up. Lifting growth will also require reforms to…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Seventh and Final Review Under the Extended Credit Facility Arrangement for Burkina Faso and Approves US$6.2 Million Disbursement

To maximize the benefits of the planned increase in public investment, it will be important to pursue fiscal structural reforms that strengthen the budget and investment processes

The economic outlook is positive, owing to a significant increase of public investment as well as positive prospects for the mining and agricultural sectors. To maximize the benefits of the planned increase in public investment, it will be important to pursue fiscal structural reforms that strengthen the budget and investment…

Source: International Monetary Fund (IMF) |

IMF Executive Board Concludes 2016 Article IV Consultation with Burkina Faso

Economic activity started to rebound in 2016, after two years of weak growth

On December 16, 2016, the Executive Board of the International Monetary Fund concluded the 2016 Article IV Consultation with Burkina Faso.[1] The Board also completed the sixth Review of Burkina Faso’s economic performance under a three-year program supported by the IMF’s Extended Credit Facility (ECF) arrangement; a press release on…

Source: International Monetary Fund (IMF) |

Executive Board Completes Sixth Review Under the ECF Arrangement, Approves US$6 Million Disbursement, and Concludes 2016 Article IV Consultation with Burkina Faso

In completing the review, the Board also approved the authorities’ request for a 9-month extension of the ECF arrangement and augmentation of access of SDR 4.47 million (about US$6 million)

On December 16, 2016, the Executive Board of the International Monetary Fund completed the sixth review of Burkina Faso’s economic performance under a three-year program supported by the IMF’s Extended Credit Facility (ECF)[1] . The decision enables the disbursement of the equivalent of SDR 4.47 million (about US$6 million), bringing…

Source: International Monetary Fund (IMF) |

IMF Executive Board Completes Fourth and Fifth ECF Reviews for Burkina Faso and Approves US$26.2 Million Disbursement

The Executive Board of the International Monetary Fund (IMF) today completed the fourth and fifth reviews of Burkina Faso’s economic performance under an economic program supported by an Extended Credit Facility (ECF) arrangement.[1] The decision enables the disbursement of SDR18.57 million (about US$26.2 million), bringing total disbursements under the arrangement…

Source: International Monetary Fund (IMF) |

The IMF Regional Technical Assistance Center for West Africa Holds its Steering Committee Meeting

The IMF Regional Technical Assistance Center for West Africa (AFRITAC West) held the 26th session of its Steering Committee in Abidjan, Republic of Côte d’Ivoire, on May 4-5, 2016. During the meetings, the Committee endorsed the Center’s activities and financial reports for the fiscal year that ended in April 2016, adopted…