(Ecofin Agency) - • Burkina Faso’s public debt rose by 15.6% in 2024
• Domestic debt made up nearly 60% of the total, with foreign debt rising 9.6% year-on-year.
• The country continues to rely on regional markets to fund public investment amid ongoing security challenges.

Burkina Faso’s public debt climbed to CFA8029.60 billion ($13.93 billion) by the end of December 2024, representing 58.6% of its gross domestic product. The figure marks a 15.6% increase from the same time in 2023, when debt stood at CFA6946.52 billion, according to the latest public debt bulletin released on April 26.

Domestic debt accounted for the majority of the total, representing 59.5%, or CFA4777.51 billion. This figure is up from 2023, reflecting the government’s increased borrowing within the country.

External debt stood at CFA3252.08 billion, making up 40.5% of the total. It rose by 9.6% over the year, driven mainly by new net borrowing and exchange rate fluctuations. Multilateral loans remain the dominant source of foreign debt, making up 89.4% of the outstanding amount.

Debt service payments reached CFA1169.8 billion in 2024, down 4.4% from the previous year.

Faced with an ongoing security and humanitarian crisis due to repeated terrorist attacks, the West African nation continues to rely on financial markets to support its public investment agenda. As of April 23, the government had raised CFA426 billion on the regional market and aims to raise a total of CFA1185 billion in 2025, slightly below its 2024 target.

Despite the rise in regional interest rates, the World Bank considers Burkina Faso’s risk of debt distress to be “moderate.” According to IMF projections, the public debt ratio is expected to fall to 50.2% in 2025 and decline further to 48.2% by 2030.