IMF Offers Burkina Faso $157.6 Million Credit Facility

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The International Monetary Fund (IMF) on Wednesday approved a three-year, $157.6 million credit facility for Burkina Faso, in part to help boost security after a spate of attacks by Islamist insurgents.

Although Burkina Faso faces significant development challenges, which have intensified in the recent period due to security shocks and social unrest, the country is expected to invest massively in the economy for sustained growth recorded in recent years.

The agricultural economy is expected to grow 6 percent this year, down from 6.5 percent in 2017, but above the 5.9 percent in 2016, the IMF said, driven by cotton production and mining.