We expect Burkina Faso's external position will gradually strengthen on the back of improved current account receipts, supported by political stability and robust economic growth. In our view, the presidential elections in November 2015 have ushered in a period of political stability in Burkina Faso, supporting the country's economic performance. We are therefore raising our long-term sovereign credit ratings on Burkina Faso to 'B' from 'B-' and affirming our 'B' short-term ratings. The stable outlook balances our expectation, over the next year, for further institutional progress and broad-based economic growth, with risks of weaker reform delivery than we currently expect. On May 26, 2017, S&P Global Ratings raised its foreign and local currency long-term sovereign credit ratings on Burkina Faso
