[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109714-en":3,"doc-seo-109714-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109714,1099514067415,"Rowan","https://ap-avatar.wpscdn.com/avatar/100002539d78ffe74a7?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779092875211072502",8,"Research & Report","Burkina Faso - Joint World Bank-IMF Debt Sustainability Analysis - April 2020","Joint World Bank and IMF Debt Sustainability Analysis for Burkina Faso assesses the risk of external and public debt distress using end-2018 debt data and the revised LIC debt sustainability methodology. External debt distress is rated moderate, with baseline indicators staying below thresholds, while a standard export shock breaches two PPG external debt thresholds. The analysis links risks to recent fiscal deficits, domestic securitization, and contingent liabilities, and recommends stronger macro-fiscal management, structural reforms, and limits on non-concessional borrowing.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION INTERNATIONAL MONETARY FUND  \nBURKINA FASO  \nJoint World Bank-IMF Debt Sustainability Analysis  \nApril 2020  \nPrepared jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF) Approved by Marcello Estevão (IDA) and Dominique Desruelle (IMF)  \n\n| Burkina Faso Joint Bank-Fund Debt Sustainability Analysis1 |  |\n| --- | --- |\n| Risk of external debt distress | Moderate |\n| Overall risk of debt distress | Moderate |\n| Granularity in the risk rating | Substantial space to absorb shocks on external debt |\n| Application of judgment | No |\n\nThis joint World Bank/IMF Debt Sustainability Analysis (DSA) has been prepared in the context of the 2019 third review of the three-year program supported by the IMF’s Extended Credit Facility (ECF) . It is based on end-2018 debt data and the latest methodology underpinning the LIC DSF. The current debt-carrying capacity is consistent with a classification of ’medium’.1 External risk of debt distress in Burkina Faso remains moderate. All external debt indicators remain below the relevant indicative thresholds under the baseline scenario. In line with the Staff Report, the baseline scenario is anchored on an overall fiscal deficit of 3 percent of GDP starting from 2019. Under a standard stress test of a shock on exports, two of the thresholds ofPPG external debt are breached. The overall public debt does not breach the relevant benchmark under all scenarios, yet Burkina Faso is assessed as having a moderate risk of public debt distress, as the external debt risk rating is moderate. Burkina Faso would need to: (i) maintain a sound macro-fiscal framework; (ii) implement structural reforms to diversify its export base of goods and services; (iii) exercise control over government guarantees and contingent liabilities; and (iv) limit non-concessional borrowing and strengthen the implementation of its medium-term debt strategy to contain its debt service and gross financing needs in order to prevent a deterioration of its debt sustainability outlook.  \n1The Debt Sustainability Analysis (DSA) was prepared with the World Bank and in collaboration with the Guinean authorities. This DSA has been prepared following the revised Debt Sustainability Framework (DSF) for LICs and Guidance Note (2017) in effect as of July 1, 2018. Guinea’s debt carrying capacity is classified as weak based on the Composite Indicator (CI) under the revised LIC DSF. Thresholds for debt burden indicators are also those established in the revised 2017 DSF.  \n1 Based on the current vintage drawing from October 2019 WEO and the 2018 CPIA, as well as the last two vintages.  \nBACKGROUND ON DEBT  \n1. Burkina Faso’s public debt levels have increased in the last few years following  \nconsecutive years of widening fiscal deficits (Text Table 1) . The nominal stock of public debt as of end-2018 stood at 43.2 percent of GDP. This sizable increase in 2018 has been driven to a large extent by an elevated budget deficit, the domestic securitization of the offbudget government subsidies to the national oil company SONABHY accumulated in 2017 and the first half of 2018, and the large cash  \n\n| Text Table 1. Burkina Faso: Public Debt Stock, 2014-18\u003Cbr>(percent of GDP) |\n| --- |\n| 2014 2015 2016 2017 2018 |\n| Public Debt 29.9 35.6 39.2 38.4 43.2\u003Cbr>External Debt 23.0 26.3 27.9 24.1 24.6\u003Cbr>share (in percent to total debt) 77.1 73.9 71.1 62.8 57.0\u003Cbr>Domestic Debt 6.8 9.3 11.3 14.3 18.6\u003Cbr>share (in percent to total debt) 22.9 26.1 28.9 37.2 43.0\u003Cbr>Memorandum items:\u003Cbr>Overall fiscal balance -1.9 -2.2 -3.5 -7.8 -4.9 GDP growth (in percent) 4.3 3.9 5.9 6.3 6.8 |\n| Sources: Burkinabe authorities; and IMF staff estimates. |\n\nadjustment in 2018, driven by the payment of the committed expenditures without payments (DENO) accumulated in 2017. As in previous DSAs, the composition of debt has continued to sh","cbCainONnDCSOuBc","https://ap.wps.com/l/cbCainONnDCSOuBc","pdf",1796041,4,1,19,"English","en",105,"# Executive Summary\n## Debt Distress Risk Ratings\n## Baseline Scenario and Stress Tests\n# Background on Debt\n## Public Debt Levels and Composition (2014-2018)\n## Coverage of Public Sector Debt\n# Background on Macro Forecasts\n## Key Assumptions and Revisions","[{\"question\":\"What is Burkina Faso’s overall risk of debt distress in this analysis?\",\"answer\":\"The overall risk of debt distress is rated moderate. The external risk of debt distress also remains moderate.\"},{\"question\":\"What key assumptions drive the baseline scenario?\",\"answer\":\"The baseline scenario is anchored on an overall fiscal deficit of 3 percent of GDP starting from 2019, using end-2018 debt data and the latest methodology for LIC DSF.\"},{\"question\":\"What happens under the standard stress test for exports?\",\"answer\":\"Under a standard shock on exports, two thresholds of PPG external debt are breached, even though overall public debt does not breach the relevant benchmark under all scenarios.\"}]","Burkina Faso - Joint World Bank-IMF Debt Sustainability Analysis - April 2020 | PDF",1784482032,48,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"burkina-faso-joint-world-bank-imf-debt-sustainability-analysis-april-2020","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/burkina-faso-joint-world-bank-imf-debt-sustainability-analysis-april-2020/109714/",{"url":53,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What is Burkina Faso’s overall risk of debt distress in this analysis?","Question",{"text":76,"@type":77},"The overall risk of debt distress is rated moderate. The external risk of debt distress also remains moderate.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"What key assumptions drive the baseline scenario?",{"text":81,"@type":77},"The baseline scenario is anchored on an overall fiscal deficit of 3 percent of GDP starting from 2019, using end-2018 debt data and the latest methodology for LIC DSF.",{"name":83,"@type":74,"acceptedAnswer":84},"What happens under the standard stress test for exports?",{"text":85,"@type":77},"Under a standard shock on exports, two thresholds of PPG external debt are breached, even though overall public debt does not breach the relevant benchmark under all scenarios.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":107,"slug":138},"General","general"]