Burundi Country Summary

FATF Status

Burundi is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

Burundi has not yet undertaken a Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards.

Burundi continues to struggle with pervasive corruption and organized crime, significantly undermining governance and public trust. The political elite, often shielded from accountability, engage in grand corruption, while the criminal justice system is compromised by corruption and state security involvement in illicit activities, further exacerbating the challenges faced by civil society and the economy.

Burundi, located in Central Africa, faces significant economic challenges, with approximately 87% of its population living below the World Bank's poverty line and a staggering youth unemployment rate of around 65%. The government, under President Ndayishimiye since June 2020, has initiated reforms aimed at improving governance and attracting foreign direct investment (FDI), particularly in agriculture and mining, but persistent issues such as corruption, bureaucratic inefficiencies, and a lack of currency reform continue to hinder economic growth. Despite these obstacles, there are ongoing efforts to modernize the agricultural sector and develop infrastructure, with the International Monetary Fund projecting a modest economic recovery in 2024, driven by agricultural production and investment reforms.