Ouagadougou: Burkina Faso’s recent removal from the Financial Action Task Force (FATF) grey list marks a significant step forward in enhancing the country’s economic appeal and diplomatic credibility, as stated by Minister of Economy and Finance Dr. Aboubakar Nacanabo.

According to Burkina Information Agency, the FATF’s decision to delist Burkina Faso offers several immediate economic advantages, notably boosting international investor confidence and improving the country’s sovereign credit rating. Minister Nacanabo emphasized that the grey list designation had previously deterred investors due to perceived financial risks associated with Burkina Faso.

Dr. Nacanabo highlighted that the exit from the grey list enhances the credibility of Burkina Faso’s financial system and positions the country to better mobilize resources in global financial markets under more favorable conditions.

On the diplomatic front, the minister noted that this development strengthens Burkina Faso’s bilateral and multilateral relationships, as numerous countries and institutions prefer to engage with states that uphold international financial transparency standards.

Minister Nacanabo attributed this achievement to a robust political commitment from the Burkinabe government, with contributions from several ministries, including Justice, Security, Trade, and Urban Planning, alongside the National Financial Information Processing Unit (CENTIF).

He concluded by stating that the removal from the grey list resulted from collective efforts, strong political determination, and national unity aimed at restoring trust and integrity in the Burkinabe financial system.