This report does not constitute a rating action. Overview Institutional and economic profile Flexibility and performance profile Our 'CCC+' sovereign credit rating on Burkina Faso reflects persistent security and governance challenges. West African Economic and Monetary Union (WAEMU) membership and IMF support provide buffers against external volatility. --Burkina Faso remains vulnerable to internal security threats, political instability, and regional division. --High gold prices and expanding mining output will bolster the external position through 2028. --We expect economic growth to average 4.8% in 2025-2028, if climate and security conditions are supportive. --The $302 million four-year program with the IMF partially mitigates funding constraints and provides an important policy anchor. --GDP per capita is very low; we forecast it will average $1,100
