Burkina Faso

Burkina Faso (formerly Upper Volta) achieved independence from France in 1960. Repeated military coups during the 1970s and 1980s were followed by multiparty elections in the early 1990s. Current President Blaise COMPAORE came to power in a 1987 military coup and has won every election since then. Burkina Faso's high population density and limited natural resources result in poor economic prospects for the majority of its citizens. Recent unrest in Cote d'Ivoire and northern Ghana has hindered the ability of several hundred thousand seasonal Burkinabe farm workers to find employment in neighboring countries.

Economical characteristics

 * Currency: West African CFA franc (ISO code: XOF)
 * Central bank discount rate: 4.75% (31 December 2008)
 * Commercial banks lending rate: NA%
 * Stock of money (M1): $1.068 billion (31 December 2008)
 * Quasi money (with M1 makes M2): $751.3 million (31 December 2008)

Notable events:

 * Banking crisis: 1988-1994

Links

 * Burkina Faso on Wikipedia
 * Central bank of Burkina Faso
 * Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)
 * BBC country profile