ernational financial institutions - most notably the IMF which
approved a three-year Extended Fund Facility worth approximately
$900 million in September 1998 - played a critical role in turning
the economy around. After several years of tumult, Bulgaria's
economy has stabilized. Its better-than-expected economic
performance in 1999 - despite the impact of the Kosovo conflict, the
1998 Russian financial crisis, and structural reforms - and strong
growth in 2000 portends solid growth over the next few years; this
assumes continued fiscal restraint, additional structural reforms,
aid from abroad, and prosperous times in the EU economy.

Burkina Faso:
One of the poorest countries in the world, landlocked
Burkina Faso has a high population density, few natural resources,
and a fragile soil. About 90% of the population is engaged in
(mainly subsistence) agriculture which is highly vulnerable to
variations in rainfall. Industry remains dominated by unprofitable
government-controlled corporations. Following the African franc
currency devaluation in January 1994 the government updated its
development program in conjunction with international agencies, and
exports and economic growth have increased. Maintenance of its
macroeconomic progress in 2001-02 depends on continued low
inflation, reduction in the trade deficit, and reforms designed to
encourage private investment.

Burma:
Burma has a mixed economy with private activity dominant in
agriculture, light industry, and transport, and with substantial
state-controlled activity, mainly in energy, heavy industry, and the
rice trade. Government policy in the 1990s has aimed at revitalizing
the economy after three decades of tight central planning. Private
activity markedly increased in the early to mid-1990s, but began to
decline in the past several years due to frustrations with the
unfriendly business environment and political pressure from western
nations. Published estimates of Burma's foreign trade are greatly
understated because of the volume of black-market, illicit, and
border trade. A major ongoing problem is the failure to achieve
monetary and fiscal stability. Burma remains a poor Asian country
and living standards for the majority have not improved over the
past decade. Short-term growth will continue to be restrained
because of poor government planning and minimal foreign investment.

Burundi: