Burkina Faso: Sixth Review Under the Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria and Augmentation of Access
Volume/Issue:
Volume 2006
Issue 359
Publication date: October 2006
ISBN: 9781451803907
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Topics covered in this book
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Business and Economics , Political Science , Exports and Imports , Economics- Macroeconomics , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , PRGF loan , PRGF arrangement , terms-of-trade shock , priority expenditure , world oil price , Agricultural prices , Oil prices , Current spending , West Africa , Sub-Saharan Africa
Summary
Performance under the Poverty Reduction and Growth Facility-supported program has been good. All quantitative performance criteria have been met. The economy has coped well with unfavorable external price developments. A substantial reform of the mechanism for determining cotton producer prices is under way. The proposed new producer price mechanism for cotton is an improvement over the previous system. The maintenance of the fuel pricing mechanism, which ensures full pass-through of changes in world oil prices, and steps to privatize the state-owned telecommunication company are major accomplishments.
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