Moderate debt burden following implementation of the Multilateral Debt Relief Initiative (MDRI) Membership in the CFA monetary zone provides monetary stability and protection from traditional balance-of-payments crises Strong donor support Low level of economic development Narrow economic base, with real appreciation negatively affecting competitiveness Large underlying fiscal imbalances due to pressing spending needs and low revenue-raising flexibility The sovereign ratings on Burkina Faso remain constrained by the country's very low level of development, with GDP per capita among the lowest in the world at below $600. This leaves Burkina Faso's narrow economy very vulnerable to external shocks and with very little flexibility to react to economic challenges. Moreover, the current economic environment, characterized by upward pressure on energy and food
