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IMF approves fourth review of Burkina Faso’s ECF, new resilience facility amid robust growth

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The Executive Board of the International Monetary Fund (IMF) has completed the fourth review of Burkina Faso’s 48‑month Extended Credit Facility (ECF), unlocking an immediate disbursement of $33.2 million.

This brings total IMF support under the arrangement to $165.8 million.

The Board also approved a new Resilience and Sustainability Facility (RSF) arrangement that runs until September 2027. The $124.3 million will begin disbursing once its first review is completed. The RSF aims to strengthen fiscal resilience, embed climate considerations in public financial management and catalyse green investment.

 

The IMF estimates that Burkina Faso’s real gross domestic product (GDP) growth accelerated to 5% in 2025, aided by higher gold prices and reforms in artisanal mining. Growth is projected to remain between 4.5 and 5% over the medium term, contingent on improvements in security. Inflation fell to minus 0.5% in 2025 due to lower food prices and is expected to converge to 2% over time.

 

The external position has strengthened: supported by strong gold exports, the current account is projected to shift from a deficit of 3.4% of GDP in 2024 to surpluses of 1.1% in 2025 and 0.8% in 2026. Rising equipment imports linked to increased gold production are expected, though energy imports should remain contained.

 

Fiscal consolidation remains on track. The deficit is estimated at 4% of GDP in 2025, reflecting improved revenue collection, wage‑bill control and restrained capital spending. Programme performance under the ECF has been satisfactory, with all performance criteria met and only minor deviations from one indicative target.

 

The Burkinabè authorities have also advanced structural reforms, meeting most benchmarks and implementing key governance measures. Under the RSF, they completed climate vulnerability assessments for major investments and strengthened climate‑related budget tagging.

 

IMF Deputy Managing Director Kenji Okamura said Burkina Faso has shown resilience despite security and humanitarian pressures, noting that sound macroeconomic management is supporting a stable recovery.

 

–IMF/ChannelAfrica–