Burkina Faso faces large social and physical infrastructure gaps, a deteriorating security situation, and unease among the rapidly-expanding population about economic prospects. Growth has been robust, averaging more than 6 percent over the past two years. Activity has been supported by...

The current ECF arrangement (access of 160 percent of quota or SDR 224.32 million) was approved on June 30, 2017 in the context of a very difficult and deteriorating social, economic, and financial situation. The crisis was precipitated by the oil price and security shocks that began in 2014,...

A 36-month Extended Arrangement under the Extended Fund Facility (hereafter the 'arrangement') was approved last December, with access of SDR 2,673 million (361 percent of quota). Lower international oil prices would reduce oil revenues, widen the current account deficit, and stymie growth...

The economy continues to grow at a fast pace, driven by port activity and cotton production. The execution of the 2019 budget is on track to bring the fiscal deficit within the WAEMU convergence criterion of 3 percent of GDP this year. Program implementation remains very satisfactory with all...

This paper discusses Burkina Faso's Second Review of the Extended Credit Facility (ECF) Arrangement and Request for a Waiver of Nonobservance of a Performance Criterion. Performance under the ECF-supported program has been broadly satisfactory. Economic activity remains resilient in the face of...

This paper discusses Mali's Request for Three-Year Arrangement Under the Extended Credit Facility (ECF). The economic outlook for Mali remains positive; however, subject to important downside risks. The potential real growth rate is estimated at about 5 percent per year and inflation is expected...

On April 13, 2018, the Executive Board of the International Monetary Fund (IMF) completed the first review of Chad's economic performance under the program supported by an Extended Credit Facility (ECF) arrangement. Completion of this review enables the immediate disbursement of SDR 35.05...

Cameroon's macroeconomic performance has been mixed against the backdrop of slower economic activity and rising security concerns, with a weaker-than-envisaged fiscal consolidation in 2017. While external buffers are being rebuilt, the CEMAC's recovery remains fragile. Renewed efforts to...

This paper discusses Armenia's Fourth Review Under the Extended Arrangement and Request for Modification of Performance Criteria. Growth is expected to reach about 2.5 percent in 2016, as the external environment continues to be weak and the effects of past positive one-off factors dissipate....