Burkina Faso: Staff Report for the 2003 Article IV Consultation and Request for a New Three-Year Arrangement Under the Poverty Reduction and Growth Facility

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 197

Publication date: June 2003

ISBN: 9781451803693

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Topics covered in this book

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Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , spending , PRGF loan , PRSP policy agenda , PRGF-supported program , agenda , government , HIPC Initiative , CFA franc , Poverty reduction strategy , Poverty reduction , Agricultural commodities , West Africa

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Republic of Congo : 2001 Article IV

Summary

This paper assesses Burkina Faso’s 2003 Article IV Consultation and a Request for a New Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Burkina Faso’s performance under PRGF-supported programs during 1993–2002 and in implementing the policy agenda laid out in the Poverty Reduction Strategy Paper adopted in 2000 was satisfactory. Real GDP recovered strongly, and inflation remained low. The economic, financial, and social situation remains fragile and difficult. The IMF staff has supported the government structural reform strategy aimed at promoting good governance, economic diversification, competitiveness, and private sector development.