Burkina Faso: Ex Post Assessment of Longer-Term Program Engagement—An Update

Author: International Monetary Fund. Finance Dept.

Volume/Issue: Volume 2013 Issue 228

Publication date: July 2013

ISBN: 9781484327081

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Topics covered in this book

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Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , capital expenditure , debt relief , private sector , broad money , Burkinabé authorities , fiscal policy , debt management , government approval , natural resources , economic growth , Poverty reduction , Global , West Africa , Sub-Saharan Africa

Also of interest

Republic of Congo : 2001 Article IV

Peru

Spain

Malawi

Summary

This paper discusses Burkina Faso’s ex-post assessment of longer-term program engagement. Economic growth has fluctuated above regional standards, averaging 5.3 percent between 2007 and 2012. The improvements in the agricultural sector, as a result of authorities’ strong push for reforms, and investments in the sector, mitigated the impact of unfavorable weather conditions. Authorities responded to high commodity price pressure with temporary exemption from custom fees, value-added tax on basic products, sales of food at below market prices, and suspension of the automatic oil price mechanism. Inflation has remained generally low since 2010, despite food shortages caused by the drought in 2011.