starting in FY 2020/21
Burundi: BankingSector Key Indicators and Trends, 2011–21
Sources: Banque de la Republique du Burundi and the World Bank.
Burundi: Growth Developments, 2000–26
Sources: World Development Indicators; Country Policy and Institutional Assessment Report 2020; Burundi authorities; IMF WEO; and IMF staff calculations and projections.
Burundi: Selected Social Indicators, 2010–20
Sources: World Bank WDI; Burundi authorities; and IMF staff estimates.
3. The economic recovery was
Burundi’s economy has shown resilience to the COVID-19 and Ukraine war shocks. Prior to the pandemic, the economy was recovering from the political and security crisis that followed late President Nkurunziza’s decision to run for a third term in 2015, with growth close to 2 percent in 2019. Difficult macroeconomic policy challenges persisted, nevertheless. The pandemic has taken a toll on the post-conflict fragile country, but COVID-19 contagion remained fairly contained and growth was positive. The war in Ukraine is compounding the adverse effects of the pandemic, with deteriorating terms of trade and the resulting domestic inflation threatening already-challenging living standards. Sanctions from the U.S. and E.U.—legacy of the 2015 crisis—have now been lifted. The U.N. Security Council ended mandatory reporting in Burundi and the country has reengaged with the international community. The 2022 Article IV consultation seals the full reengagement with the IMF—the last one was concluded in 2014.