Burkina Faso: 2007 Article IV Consultation, First Review Under the Poverty Reduction and Growth Facility, Request for Access Augmentation, Requests for Waivers of Nonobservance of Performance Criteria, and Request for Modification of Performance Crite

2007 Article IV Consultation, First Review Under the Poverty Reduction and Growth Facility, Request for Access Augmentation, Requests for Waivers of Nonobservance of Performance Criteria, and Request for Modification of Performance Criteria: Staff Report; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for Burkina Faso

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 168

Publication date: May 2008

ISBN: 9781451803945

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Topics covered in this book

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Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , Taxation - General , Public Policy - Social Services and Welfare , ISCR , CR , PRGF arrangement , SDR , debt sustainability outlook , cotton producer price mechanism , reform agenda , PRGF loan , Agricultural prices , Current account deficits , Capital spending , Tax administration core functions , West Africa

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Summary

Structural reforms and strong macroeconomic policies of Burkina Faso have promoted economic growth and low inflation over the past decade. Executive Directors welcomed this development, and encouraged the authorities to reduce the fiscal deficit and maintain fiscal and external debt sustainability. They underscored the importance of a sound fiscal policy and a prudent policy framework to improve external competitiveness. They commended tax policy reform and adoption of the new cotton producer price mechanism. In view of this, grant financing is desirable to keep debt sustainable.