Burkina Faso member of OHADA
In 2018, tourism was almost non-existent in large parts of the country. The U.S. government (and others) warn their citizens not to travel into large parts of Burkina Faso: "The northern Sahel border region shared with Mali and Niger due to crime and terrorism. The provinces of Kmoandjari, Tapoa, Kompienga, and Gourma in East Region due to crime and terrorism".The 2018 CIA World Factbook provides this updated summary. "Burkina Faso is a poor, landlocked country that depends on adequate rainfall. Irregular patterns of rainfall, poor soil, and the lack of adequate communications and other infrastructure contribute to the economy's vulnerability to external shocks. About 80% of the population is engaged in subsistence farming and cotton is the main cash crop. The country has few natural resources and a weak industrial base. Cotton and gold are Burkina Faso's key exports ...The country has seen an upswing in gold exploration, production, and exports.
While the end of the political crisis has allowed Burkina Faso's economy to resume positive growth, the country's fragile security situation could put these gains at risk. Political insecurity in neighboring Mali, unreliable energy supplies, and poor transportation links pose long-term challenges." The report also highlights the 2018–2020 International Monetary Fund program, including the government's plan to "reduce the budget deficit and preserve critical spending on social services and priority public investments".A 2018 report by the African Development Bank Group discussed a macroeconomic evolution: "higher investment and continued spending on social services and security that will add to the budget deficit". This group's prediction for 2018 indicated that the budget deficit would be reduced to 4.8% of GDP in 2018 and to 2.9% in 2019. Public debt associated with the National Economic and Social Development Plan was estimated at 36.9% of GDP in 2017.Burkina Faso is a member of the Organization for the Harmonization of Business Law in Africa (OHADA). The country also belongs to the United Nations, International Monetary Fund, World Bank, and World Trade Organization.
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