This report does not constitute a rating action. Overview Institutional and economic profile Flexibility and performance profile Security and political risks underpin our 'CCC+' sovereign credit rating on Burkina Faso. IMF support and membership in the West African Economic and Monetary Union (WAEMU) help alleviate external pressures. --Regional political fragmentation in West Africa will add to existing security, economic, and funding pressures. --Burkina Faso's twin deficits should narrow from 2024-2027, supported by high gold prices and mining and agricultural output. --While terrorism risk, especially in the north of the country, remains high, enhanced security at key mining sites should support economic growth, which we expect to average 4.8% in 2024-2027. --The $302 million, four-year Extended Credit Facility (ECF) funding program
