Burkina Faso and IMF staff reached a staff-level agreement on economic policies on 4 November 2026 that could allow completion of two programme reviews. The envisaged disbursements are SDR 48.16 million under the Extended Credit Facility and SDR 16.42 million under the Resilience and Sustainability Facility.
These financing amounts remain subject to approval by the IMF Executive Board, whose consideration is provisionally scheduled for mid-January 2027. The agreement concerns the sixth review of the credit programme and the second review of the resilience programme.
Two programmes already under way
It follows arrangements already in place. On 26 June 2026, the Board had increased access to the Extended Credit Facility by SDR 60.20 million, bringing the total envelope to SDR 288.96 million. That decision had also enabled an immediate disbursement of SDR 60.20 million. The November step therefore concerns the continuation of the programme, approved in September 2023.
The resilience component, for its part, was approved in February 2026 for SDR 90.3 million. It aims to strengthen the capacity of public finances to absorb shocks, to integrate climate risks into their management and to mobilise green financing. It also provides for improving the performance of state-owned enterprises in climate-sensitive sectors.
Energy and social spending in the policy trade-offs
These objectives dovetail with the budget trade-offs already highlighted in June. Faced with rising prices of imported petroleum products and fertilisers, the Board recommended targeting energy subsidies and limiting their duration. It also called for protecting health, education and social protection spending in multi-year budget plans.
The November statement confirms this tension between revenue and spending. The supplementary budget maintains a government deficit target of 2.7% of GDP despite higher public investment. IMF staff estimate that the deficit could exceed this target, while remaining below the ceiling of 4% agreed at the June review.
Discussions therefore covered budget provisions to manage energy costs, strengthen social protection and ensure food security. The mission also examined the role, operating arrangements and governance of the recently created mining sovereign fund.