We expect Burkina Faso's twin deficits to widen in 2020, as the country grapples with the economic and social effects of the COVID-19 pandemic. Burkina Faso's balance-of-payments needs will be largely covered by assistance from multilateral and bilateral partners, paving the way for recovery in 2021. In our view, Burkina Faso's membership of the West African Economic and Monetary Union (WAEMU) continues to provide a robust policy anchor, while cushioning the country against external pressures. We are therefore affirming our 'B/B' sovereign credit ratings on Burkina Faso, with a stable outlook. On May 15, 2020, S&P Global Ratings affirmed its 'B' long-term and 'B' short-term foreign and local currency sovereign credit ratings on Burkina Faso. The outlook is stable. The
