Public Management

Burkina Faso set to surpass Mali as fourth largest economy in CFA zone by 2024 (IMF)

Burkina Faso set to surpass Mali as fourth largest economy in CFA zone by 2024 (IMF)
Tuesday, 23 April 2024 15:19

Collectively, the three AES countries will have a combined GDP of $62.3 billion. Burkina Faso will lead the way, overtaking its neighbor Mali, according to the IMF. Ouagadougou will nevertheless lag far behind the region's leading economy, Côte d'Ivoire, which will post a GDP of $86.9 billion this year.

The International Monetary Fund (IMF) forecasts Burkina Faso to become the fourth-largest economy in the CFA franc zone in 2024, overtaking its neighbor Mali, which will now fall back to fifth place, despite an increase in its economy to $21.6 billion (from $20.6 billion).

According to the institution's data, Burkina Faso's economy, estimated at $20.3 billion (at current prices) in 2023, will reach $21.9 billion this year, ranking behind Côte d'Ivoire, Cameroon, and Senegal. Despite political changes impacting both Burkina Faso and Mali in recent years, particularly their withdrawal from the Economic Community of West African States (ECOWAS), these nations are poised to transition from the CFA franc, which they view as a relic of colonialism, to a new shared currency with Niger. However, the full impact on their GDP remains uncertain pending further details. Primarily reliant on mining resources, both Mali and Burkina Faso are undergoing significant political shifts with potential economic repercussions.

In the CFA franc zone, Côte d'Ivoire maintains its lead among the top economies, fueled by sustained economic growth and ongoing oil and gas projects. The Ivorian economy is expected to surpass $100 billion for the first time in 2026, reaching $109 billion by 2027.

Ranking of CFA zone economies in 2024 according to IMF projections

  1. Côte d'Ivoire - $86.91 billion
  2. Cameroon - $53.20 billion
  3. Senegal - $35.45 billion
  4. Burkina Faso - $21.90 billion
  5. Mali - $21.66 billion
  6. Benin - $21.37 billion
  7. Gabon - $21.01 billion
  8. Niger - $18.81 billion
  9. Chad - $18.69 billion
  10. Republic of Congo - $15.50 billion
  11. Equatorial Guinea - $10.70 billion
  12. Togo - $9.83 billion
  13. Central African Republic - $2.81 billion
  14. Guinea-Bissau - $2.15 billion

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
BOAD says sovereign bond purchases are liquidity management Member states accelerate borrowing; Senegal raises 600 billion CFA Regional...
IFC launches $6 billion credit insurance facility Insurers share risk on loans to SME lenders Facility to support up to $10...
Santam secures license to open reinsurance branch in India’s GIFT City Becomes first BRICS-based insurer to establish reinsurance presence there Move...
Proparco grants 9 billion naira guarantee to support MSME lending Risk-sharing tool could unlock up to 18 billion naira in loans over two years Move...
Most Read
01

ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...

ECOWAS Eco Currency May Launch Without WAEMU in 2027 Push
02

West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan wit...

BOAD Launches 2026–2030 Strategy With Boston Consulting Group Support
03

Investigation targets alleged breaches of Nigeria’s 2023 data protection law Platform processes p...

Nigeria: Investigation on Chinese Owned Temu Regarding Privacy Breach Concerns for Local Users
04

BOAD appointed Adji Sokhna M’Baye as Chief Executive Officer of BOAD Market Solutions, its new str...

BOAD Names Adji Sokhna M’Baye CEO of Structured Finance Unit
05

Algeria plans to launch construction of the $13 billion Trans-Saharan Gas Pipeline (TSGP) a...

Algeria–Morocco: Will the Gas Pipeline Duel Take Place? (Editorial)
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

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


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.