The International Monetary Fund (IMF) has approved a new $124.3 million Resilience and Sustainability Facility (RSF) for Burkina Faso, following the completion of the fourth review of the country’s 48-month Extended Credit Facility (ECF) programme. This review triggered an immediate disbursement of about $33.2 million, bringing total IMF support under the ECF arrangement to roughly $165.8 million since September 2023.
The newly approved RSF arrangement, running until September 2027, aims to strengthen Burkina Faso’s fiscal resilience, integrate climate considerations into public financial management, improve the performance of state-owned enterprises in climate-sensitive sectors, and mobilise green financing. Disbursements under the RSF will begin after the first review of the programme.
Burkina Faso’s economy has shown encouraging signs of growth, with real GDP estimated to have accelerated to 5.0 percent in 2025, up from 4.8 percent the previous year. The IMF attributed the growth to higher gold prices, a strong response from artisanal mining, and reforms in the mining sector, which offset a slowdown in services. Medium-term GDP growth is expected to remain between 4.5 and 5.0 percent, depending on improvements in the security situation.
Inflation slowed sharply in 2025 to -0.5 percent, largely due to declining food prices, and is projected to stabilise around 2 percent over the medium term. The country’s external position has strengthened, with higher net exports and improved terms of trade. The current account is projected to shift from a deficit of 3.4 percent of GDP in 2024 to surpluses of 1.1 percent in 2025 and 0.8 percent in 2026, mainly due to elevated gold prices.
On the fiscal side, Burkina Faso is maintaining strong discipline. The fiscal deficit for 2025 remained well below the programme ceiling of 4 percent of GDP, thanks to higher mining revenues, controlled wage bills, and restrained capital spending. The IMF assessed programme implementation under the ECF as satisfactory, with most performance criteria and structural benchmarks met, including significant progress on governance reforms.
Commenting on the review, IMF Deputy Managing Director and Acting Chair Kenji Okamura noted that Burkina Faso’s economy has remained resilient despite ongoing security and humanitarian challenges. He highlighted the importance of continuing reforms to support broad-based growth, strengthen the private sector, and reduce vulnerabilities to external shocks, particularly fluctuations in commodity prices.
Mr. Okamura also emphasised that the RSF programme would enhance resilience by reducing reliance on emergency food imports and strengthening climate-smart agriculture, which supports about 80 percent of the population.
