The ratings on Burkina Faso reflect Standard&Poor's Ratings Services' view of the sovereign's moderate though growing debt burden; its membership in the CFA monetary zone, which supports monetary stability; and the strong donor support the country receives. These strengths are offset, however, by Burkina Faso's low degree of economic development, with GDP per capita estimated at $583 in 2010; its narrow economic base, which makes the economy vulnerable to external shocks such as commodity price swings; and the large structural fiscal imbalance, due to the government's pressing spending needs and low revenue-raising flexibility. We are forecasting GDP growth of 5.2% in 2010, compared with 3.2% in 2009. The pick-up in growth is mainly supported by increasing gold production,
