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International Monetary Fund. African Dept.

Burundi’s Fourth Review Under the Extended Credit Facility (ECF) Arrangement is discussed. The measures undertaken to enhance fiscal outlook by the 2015 elections are reviewed. Satisfactory progress has been made on structural reforms. Policy discusses have focused on reinvigorating program implementation after the difficulties in completing the third review under the ECF arrangement. The IMF staff recommends the completion of the fourth review under the ECF arrangement, setting of new performance and indicative criteria for September 2014, and the disbursement of SDR 5 million.

International Monetary Fund

Burundi’s economy has continued to grow at a slower pace than envisaged owing to the impact of food and fuel shocks on aggregate demand. The macroeconomic outlook remains broadly positive but subject to risks that emanate from the security situation and the external environment. The foremost risks are a decline in donor support, warranting an abrupt fiscal adjustment, and a worsening in the security situation. These risks are mitigated in part by reforms that have improved revenue mobilization and efforts in nation building.

International Monetary Fund
The Selected Issues paper for Uganda and Rwanda discusses the impact of rising international food and fuel prices on inflation. Unlike in the case of fuel-producing countries, the East African Community countries are major agricultural producers, with agriculture accounting for 20 percent to 40 percent of their GDP. The two most important factors limiting the pass-through of world food commodities are therefore the high degree of self-sufficiency in the production of main tradable food commodities and their relative insulation from international markets.
International Monetary Fund
This 2008 Article IV Consultation highlights that Burundi is emerging slowly from more than a decade of civil conflict. GDP per capita is about US$139, and only 18 percent of the population is food secure. Economic growth slowed down while inflation increased in 2007. External developments were dominated by a decline in exports and a sharp rise in grants. Executive Directors have commended the authorities for the progress they have made in implementing Burundi’s first Poverty Reduction and Growth Facility-supported program in a difficult post-conflict environment.
International Monetary Fund. External Relations Dept.
La inflación, Programa de trabajo del FMI, El precio de las materias primas, Impacto en África, Qué empuja el petróleo al alza, Reunión petrolera de Yeddah, Entrevista sobre Haití, El fondo soberano de Noruega, México, La política monetaria de Suiza, Mauricio, Notas breves
International Monetary Fund. External Relations Dept.
L'inflation, Programme du FMI, Envolée des prix des produits de base, impact sur les économies africaines, Causes de la flambée du pétrole, Réunion de Djeddah sur le pétrole, Haïti, Fonds souverain norvégien, Mexique, Suisse: politique monétaire, Maurice, l'actualité en bref
International Monetary Fund. External Relations Dept.
Inflation, IMF work agenda, Food and fuel prices, Commodity price surge, Oil price surge, Jeddah meeting, Haiti interview, Norway's sovereign wealth fund, Mexico, Switzerland's monetary policy, Mauritius, News briefs.
International Monetary Fund
This note discusses the implications of the price shocks for the balance of payments of low-income countries in sub-Saharan Africa. The response by bilateral donors and multilateral institutions will, in practice, need to be country-specific. To this end, the note identifies a list of 18 countries in the region that are especially hard-hit and that consequently face a pressing need for additional balance of payments and budget support. The list reflects country circumstances and underlying assumptions as of May, and is subject to change; it is not meant to be definitive.
International Monetary Fund

The Burundian economy is recovering but at a slower pace than previously expected, while inflation is expected to rise considerably. The macroeconomic outlook has been adversely affected by the surge in global food and fuel prices. Policies focused on the appropriate policy response to the food and fuel price shock, with a view to consolidating economic stability and further reducing poverty are required. Executive Directors urge the government to anchor medium-term fiscal policy to debt sustainability. Sustained growth depends on accelerating structural reforms.