Burundi: 2006 Article IV Consultation, Third and Fourth Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, Modification of a Performance Criterion, Extension of the Arr

2006 Article IV Consultation, Third and Fourth Reviews Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, Modification of a Performance Criterion, Extension of the Arrangement, and Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries—Staff Report; Staff Statement; Public Information

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 311

Publication date: August 2006

ISBN: 9781451802917

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , coffee marketing , PRGF arrangement , government , parliament , assistance , regime , staff appraisal , article IV consultation discussion , managed floating exchange rate regime , expenditure-tracking mechanism , Arrears , Debt relief , Imports , Debt service , East Africa , Europe , Africa

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Summary

Burundi is emerging from more than a decade of civil conflict that started with the 1993 coup d’état against its first elected government. Macroeconomic developments in 2005 were broadly in line with the Poverty Reduction and Growth Facility (PRGF) program, although growth was lower at about 1 percent, largely because of a poor coffee harvest and worsening drought in the north. The 2006 budget, adopted in late 2005, envisaged a drop in revenues to 18.9 percent of GDP and spending of 40.8 percent of GDP.