Burkina Faso/ECOWAS: ECOWAS sanctions impact the economy of Burkina Faso and West Africa

The sanctions imposed on Burkina Faso by ECOWAS following the coup d’état in January 2022, and which have been maintained to date, have an impact not only on the economy of the country concerned, but on that of all the countries in the WAEMU region.

The Governor of the Central Bank of West African States (BCEAO), Jean-Claude Kassi BROU, discussed sanctions during his visit to Ouagadougou and his discussions with the transitional President and Head of State, Captain Ibrahim TRAORE.

Indeed, the BCEAO envoy met with the transitional President in Burkina Faso, a member country of the West African Economic and Monetary Union (UEMOA), to convey the economic and monetary situation at the national level and within the UEMOA region at the end of the year 2023.

According to the governor of the West African bank, economic growth remains robust, and he is optimistic for the coming year. However, it is important to make certain decisions to foster this economic growth within the UEMOA zone, such as lifting economic and commercial sanctions imposed on some countries in the region.

In reality, these sanctions that ECOWAS is ready to deploy at any time, such as border closures and the suspension of commercial transactions, do not benefit any of its member countries. Fortunately, Burkina Faso is on the right track to bolster its economy.

Jean-Claude Kassi BROU himself affirmed that the economic growth, inflation, and economic indicators in Burkina Faso are heading in the right direction, and the inflation rates, which were a concern during his first visit last February, have «improved significantly».

Sadia Nyaoré