Burkina Faso: Fourth Review Under the Extended Credit Facility Arrangement, Financing Assurances Review, and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

International Monetary Fund

No 2026/064, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Burkina Faso’s Fourth Review under the Extended Credit Facility (ECF) Arrangement, Financing Assurances Review, and Request for an Arrangement under the Resilience and Sustainability Facility. The authorities remain committed to an ECF-supported program aimed at fiscal consolidation and stronger fiscal governance, despite ongoing challenges from insecurity, poverty, and extreme weather shocks. The economic outlook for 2026–28 is moderately positive, with real gross domestic product (GDP) growth projected at around 5 percent and inflation expected to remain below target, although downside risks persist. Program implementation has been largely satisfactory: all end-June 2025 quantitative performance criteria and continuous targets were met, with only minor deviations in indicative targets and value-added tax-refund arrears. Most structural benchmarks were achieved, including the delayed energy sector reform, while the Governance Diagnostic Assessment (GDA) report was not published due to concerns over public misinterpretation. To mitigate this, authorities have implemented corrective actions and completed over half of the GDA’s priority recommendations. Ongoing discussions emphasize maintaining the fiscal deficit below 3.5 percent of GDP in 2026, enhancing transparency, and advancing governance reforms, including new measures to control the public sector wage bill.

Keywords: reforms ownership; Sahel state; priority spending; governance reform; climate agenda; adaptation effort; authorities' fiscal policies; Natural disasters; Climate change; Climate finance; Mining sector; West Africa; Global; Africa (search for similar items in EconPapers)
Pages: 153
Date: 2026-03-23
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