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Burkina Faso Dec 11
Standard & Poors, Dec 2011
Abstract
A moderate, albeit growing, debt burden. Membership in the CFA monetary zone, which supports monetary stability. Low degree of economic development. Narrow economic base and vulnerabilities to external and terms of trade shocks. The ratings on Burkina Faso are constrained by our view of the country's low economic development (we estimate 2011 GDP per capita at $590), weak political institutions, narrow economic base, and significant net external liability position, which leaves the economy vulnerable to external shocks and fluctuations in global commodity prices. In our view, the ratings are supported by committed donor support, the government's moderate (though growing) fiscal debt burden, and the monetary and exchange rate stability provided by membership in the West African Economic And Monetary Union...
Companies mentioned in this report are: Burkina Faso
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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