Burkina Faso: Staff Report for the 2011 Article IV Consultation and the Third Review Under the Extended Credit Facility: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burkina Faso
International Monetary Fund, Jul 2, 2012 - Business & Economics - 114 pages
This 2011 Article IV Consultation and the Third Review Under the Extended Credit Facility for Burkina Faso highlights that the authorities have maintained fiscal consolidation efforts while mitigating the impact of exogenous shocks. Executive Directors have welcomed the authorities’ sustained implementation of sound policies and structural reforms, which has contributed to robust economic growth, low inflation, and a broadly favorable external position. Directors have encouraged the authorities to maintain fiscal discipline within the context of a medium-term fiscal framework while increasing investment and social spending.
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Advisor AFRITAC AFRITAC AFRITAC andthe arrears Article IV Consultation assessment Bank benchmarks budget Burkina Faso Burkinabč authorities CFA franc CFAF cotton sector current account customs debt distress debt management capacity debt-to-exports ratio December December 21 economic growth end-June enhance estimates and projections exchange rate Executive Board exogenous shocks expenditure management export Extended Credit Facility external debt Faso’s ﬁnance financial sector fiscal adjustment framework global IMF staff estimates impact implementation increase infrastructure International Monetary Fund inthe loans long-term debt sustainability macroeconomic measures medium MEFP Memorandum microfinance mining sector Netbank ofthe Ouagadougou overall payments percent of GDP percentof poverty reduction private sector production PRSP public investment real GDP growth REER revenue collection revenue mobilization risk of debt SCADD sector development SOFITEX Sources statistics strategy strengthen structural reforms Table Tax Advisor taxpayer term Text Figure Third Review TOFE Treasury underthe WAEMU Washington D.C.