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Burundi: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Burundi

International Monetary Fund

No 2022/257, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2022 Article IV Consultation discusses that Burundi’s economy continues to navigate the challenging headwinds presented by the coronavirus disease 2019 pandemic and the impact of the war in Ukraine. Burundi’s public debt is sustainable; however, the risk of external debt distress is high. External imbalances are large, with reserve coverage below adequacy levels and a large parallel exchange rate market premium. Growth is expected to strengthen somewhat in 2022, to 3.3 percent, although dampened by inward spillovers of the war in Ukraine, which has compounded nascent domestic fuel shortages and transportation disruptions. Burundi is at high risk of debt distress; and debt is assessed as sustainable contingent on fiscal adjustment and robust export and growth performance. External imbalances have been exacerbated by the pandemic and inward spillovers from the war in Ukraine, with foreign exchange reserves coverage below adequacy levels and a large parallel exchange rate market premium.

Keywords: Burundian authorities; international community; vaccination campaign; GDP estimate; market premium; COVID-19; Debt sustainability analysis; Global; Southern Africa; East Africa; Africa (search for similar items in EconPapers)
Pages: 98
Date: 2022-07-29
New Economics Papers: this item is included in nep-cis
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