Captain Ibrahim Traoré, the military leader of Burkina Faso since September 2022, has been credited with significant economic and political shifts in the country. Claims that Burkina Faso has fully paid off its international debt and regained control of its natural resources have circulated widely, particularly on social media and in some news outlets. However, the reality is more complex based on available evidence.
Regarding the claim of paying off international debt, there is no definitive, independently verified data confirming that Burkina Faso has completely cleared its external debt as of April 7, 2025.
Reports suggest Burkina Faso’s external debt was estimated at over $10 billion recently, with additional undisclosed amounts owed to China. Some sources, like posts on X and certain articles, assert that Traoré’s government paid off $4.7 billion in external or domestic debt, attributing this to increased revenue from gold exports and fiscal reforms.
For instance, it’s been claimed that strategic policies and renegotiated trade agreements enabled this milestone. Yet, reputable outlets like Voice of America have noted a lack of evidence to substantiate these claims, particularly regarding the repayment of debts to major creditors like China. Without official statements from Burkina Faso’s Ministry of Finance or international financial institutions providing clear figures, this remains unconfirmed.
On the control of natural resources, Traoré has indeed pushed for greater national sovereignty over Burkina Faso’s assets, especially its gold mines, which produce about 70 tons annually and are among Africa’s largest reserves.
His administration has expressed intentions to reclaim mining permits from foreign companies—predominantly French, Canadian, British, Australian, and increasingly Russian firms like Nordgold—and bolster local production. Steps like nationalizing parts of the gold industry and building a second cotton processing plant reflect this agenda. However, foreign companies still dominate the sector.
Traoré’s shift away from France, Burkina Faso’s former colonial power, toward Russia has led to prolonged contracts and tax reductions for Russian businesses, suggesting that while control is shifting, it’s not fully in Burkinabé hands yet. Claims of complete control over natural resources appear exaggerated, as the transition is ongoing and influenced by new foreign partnerships rather than total independence.
In summary, while Traoré’s leadership has prioritized economic autonomy and resource management, the claims of fully paid international debt and complete control over natural resources lack conclusive support.
Burkina Faso is making strides toward these goals, but as of now, it’s more accurate to say they are in the process of reducing debt reliance and renegotiating resource control rather than having fully achieved either.
