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International Monetary Fund
In 2008–09, economic activity in Burkina Faso was negatively affected by the increase in global food and fuel prices, the global economic and financial crisis, and heavy flooding in Ouagadougou in September 2009. These shocks are estimated to have contributed to a deterioration in poverty indicators. Spending on emergency and humanitarian needs rose after the 2009 flooding. Fiscal stimulus measures were also adopted to support economic activity. Executive Directors have welcomed the authorities’ resolve to enhance revenue performance and expenditure management while unwinding exceptional expenditure generated by adverse exogenous shocks.
International Monetary Fund. African Dept.
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.
International Monetary Fund
This paper presents findings of the Fourth Review Under the Extended Credit Facility Arrangement for Burkina Faso. Near-term policy discussions focused on specifying 2012 financing needs arising from the shocks to help prevent crowding out the authorities’ development program—Strategy for Accelerated Growth and Sustainable Development. The authorities have implemented decisive adjustment measures, without which financing needs would be much higher. Program performance was strong in 2011, despite domestic social unrest and political turmoil in neighboring Côte d’Ivoire. All quantitative performance criteria and all indicative targets were met.
International Monetary Fund. African Dept.

This paper focuses on 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. Growth projections have been revised slightly downwards to 6.8 percent in 2013 and 2014. The authorities are requesting a successor three-year ECF arrangement to meet projected balance of payments needs. Based on ad referendum agreements, the requested successor ECF-supported program aims to address long-term structural issues, while preserving stability in a potentially more challenging macroeconomic environment going forward.

International Monetary Fund

January 9, 2008 On behalf of my Burkina Faso authorities, I would like to thank the Executive Board, Management and Staff for their continued support to Burkina Faso. My authorities are very grateful to staff for the constructive and high quality policy exchange over the past years and also for the fruitful discussions recently held in Ouagadougou. In spite of a difficult external environment marked by low cotton prices, the country recorded a good macroeconomic performance in 2006, with a growth rate of 5 ½. Inflation fell below 3 percent, the

International Monetary Fund. African Dept.

aforementioned Plan with you. The English version of this summary is available online at the following address: http://www.pndes2020.com/english/ . The English version of the complete PNDES document is available online at the following addresses: http://www.finances.gouv.bf and http://www.dgcoop.gov.bf . The Burkina Faso authorities agree to the publication of these documents on the IMF website. The aim of the 2016-202 PNDES is to structurally transform the Burkinabè economy to generate strong, sustainable, resilient, and inclusive growth in order to create decent jobs

International Monetary Fund

resources. Regarding the cotton sector, my authorities’ actions will seek to increase productivity in the sector and to improve the balance sheets of the cotton ginning companies. Key measures planned include the restructuration of the main cotton ginning company SOFITEX, which will entail new cost cutting measures, and an overhaul of the price-smoothing mechanism. CONCLUSION My Burkina Faso authorities have continued to maintain a track record of strong program implementation in the context of a difficult external environment. In light of the authorities strong

International Monetary Fund

RESPONSE BY THE BURKINA FASO AUTHORITIES TO THE REPORT ON THE OBSERVANCE OF STANDARDS AND CODES (ROSC)—DATA MODULE PREPARED BY THE IMF STATISTICS DEPARTMENT The following observations and comments form the response to the report on the ROSC data module for Burkina Faso sent by the IMF Statistics Department. The Technical Committee responsible for coordinating the ROSC collected the responses from within the Ministry of Finance and Budget, the National Institute of Statistics and Demography (INSD), and the BCEAO National Directorate. The establishment of

International Monetary Fund. African Dept.

I would like to convey the appreciation of my Burkina Faso authorities’ to the IMF for its constructive technical and financial engagement. The authorities thank Fund’s staff country team, as well as the Ex-Post Evaluation mission for the candid and helpful policy discussions recently held in Ouagadougou in the context of this sixth ECF program review. They are also grateful for Fund’s valuable contribution to the high level Conference on Inclusive Growth. Burkina Faso’s economic growth momentum remained strong in spite of a difficult external environment