Faced with prolonged balance of payments problems, Burkina Faso obtained $302 million in financing from the International Monetary Fund (IMF), with an immediate disbursement of $31.8 million. This financing is part of an extended credit facility (ECF) agreement with a duration of 48 months.
According to the IMF, in 2022, Burkina Faso’s overall budget balance widened to 10.6% of GDP, while economic growth slowed to 1.5% year-on-year, after 6.9% in 2021.
Source: Africa News Agency