IRIN Africa | BURKINA FASO: Stability vital to region | Burkina Faso | Mali | Conflict ... - 0 views
www.irinnews.org/...FASO-Stability-vital-to-region
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President Compaoré responded harshly to mutineers: he took direct control of the Ministry of Defence; dismissed several important high-ranking officers, and appointed a new army chief of staff. Over 300 soldiers were arrested and a further 600 removed from the ranks.
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Stability in Burkina Faso is vital for regional stability, said a Western diplomat, given the recent conflict in Côte d’Ivoire and the current situation in Mali.
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The price of basic commodities - rice, oil, milk and fuel - which rose significantly in 2008, have dropped little since, with prices 20 percent above the five-year average as of August 2012, according to USAID’s Famine Early Warning System, FEWS NET. For three months following the riots, the government upped subsidies to reduce by one quarter the price of rice, cooking oil, sugar and fuel, but prices shot up after that and some say traders simply kept prices the same, using the subsidy to increase their personal profits.
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This year, the economy is expected to perform better with a projected 7 percent growth rate partly linked to an upsurge in gold exports and a projected stronger harvest, but vulnerability remains. Just under half of the population lives in poverty, and a lack of economic diversity means a significant proportion of Burkinabe are reliant on the cotton sector, which is vulnerable to drought and severe price fluctuations.
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The Burkinabe government has beefed up its military presence on the Mali border. US drones are in operation, partly operating out of Ouagadougou under Operation Creek Sand, according to a Washington Post report, though US officials have not officially acknowledged this.