Burkina Faso: Third Review Under the Extended Credit Facility Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Burkina Faso

This paper presents Burkina Faso’s Third Review under the Extended Credit Facility Arrangement, Requests for Waivers of Nonobservance of Performance Criteria, Modification of Performance Criteria, and Financing Assurances Review. Real GDP growth is estimated to have reached 5.0 percent in 2024, driven by strong performance in agriculture and services, which offset contractions in mining and manufacturing. Favorable weather and supportive policies significantly boosted agricultural output, but ongoing insecurity continues to hamper economic activity, particularly in gold mining, a key export sector. Program performance was generally satisfactory, though end-December 2024 targets for the primary fiscal deficit and net domestic financing were missed by 0.6 percent of GDP. The 2025 budget includes sufficient corrective measures, leading the Executive Board to approve waivers for these non-observances. All continuous performance criteria were met, and seven out of eight structural benchmarks were achieved, with the final one implemented as a prior action.