Public Management

Burkina Faso's External Debt Rises 4.4% by End of March 2024

Burkina Faso's External Debt Rises 4.4% by End of March 2024
Wednesday, 17 July 2024 16:11

Burkina Faso's external debt increased by 4.4% to reach CFA3,097.52 billion ($5.1 billion) at the end of March 2024, up from December 2023, according to the latest public debt statistics bulletin released by the Ministry of Economy and Finance.

The bulletin attributes this rise primarily to net disbursements on external loans and exchange rate fluctuations. Notably, 32.6% of this external debt is exposed to currency fluctuations other than the euro. Multilateral loans from institutions such as the World Bank and the International Monetary Fund (IMF) account for 88.4% of the external debt. Loans from bilateral creditors and commercial banks represent 8.3% and 3.4%, respectively.

External debt constitutes 43.3% of Burkina Faso's total public debt. Between January and March 2024, the Burkinabè authorities paid CFA25.72 billion ($42.6 million) for external debt servicing.

Burkina Faso continues to face a severe security and humanitarian crisis due to terrorist attacks, putting significant pressure on public finances. In 2023, the country’s budget deficit reached 6.7% due to increased security spending. To address this situation, Burkina Faso has secured loans from multilateral institutions and other regional development banks to finance specific development projects.

As of the end of March 2024, Burkina Faso's total public debt stood at CFA7,148.29 billion ($11.8 billion), representing 57.9% of GDP, up from 56.1% in December 2023, according to the Ministry of Economy and Finance.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société Générale Burkina Faso (SGBF).•The move is part of...
• Gabon signs two major financing agreements with Afreximbank totaling over $3.2 billion.• Projects target mining sector transformation, expanded...
• Afreximbank to mobilize up to $1.5 billion for Chad’s private sector development.• Agreement supports key sectors, including agropastoral...
(WAVE) - Wave Mobile Money, Africa’s fastest-growing mobile money platform, has raised EUR 117 million in debt financing to advance its mission of...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
03

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
04

• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...

Deepfake Threat Becomes Alarming in Africa as AI Advances Faster Than Laws
05

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.