Burundi Country Summary
Sanctions
EU Restrictions in force
FATF AML Deficient List
No - not yet undertaken a Mutual Evaluation
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
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.
Sanctions
Burundi, as a UN member, must adhere to sanctions imposed by the UN Security Council, which aims to maintain international peace through various measures. Since 1966, the Security Council has established numerous sanctions regimes, focusing on issues like political conflicts and nuclear non-proliferation, while ensuring the rights of those targeted are considered.
The US has lifted its sanctions on Burundi, while the EU has renewed its restrictive measures until October 2024, applying them to one individual. The EU emphasizes the need for Burundi to improve its human rights situation and is committed to ongoing political dialogue to foster cooperation and address challenges.
Bribery & Corruption
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 17 |
| World Bank: Control of Corruption Percentile Rank | 3 |
Burundi continues to struggle with widespread corruption, particularly grand corruption, as political elites exploit their positions for personal gain despite the government's attempts to combat the issue. Although there are anti-corruption laws in place, their implementation is lacking, and many officials enjoy immunity from prosecution, which hinders accountability. Corruption significantly deters foreign investment, especially in the areas of licensing and customs, exacerbated by a non-transparent environment and the recent disbandment of the anti-corruption court.
Economy
Burundi is one of the world's most impoverished countries, with 87 percent of its population living below the World Bank's poverty line of $2.15 per day, and a significant portion reliant on subsistence agriculture. The economy faces challenges such as high youth unemployment, estimated at 65 percent, and persistent foreign exchange shortages that hinder investment and growth. Despite government efforts to modernize agriculture and attract foreign direct investment, issues like corruption and an ill-equipped bureaucracy continue to impede economic progress.
Burundi's investment climate is challenged by pervasive corruption, an ill-equipped bureaucracy, and deficiencies in the rule of law, which hinder foreign direct investment (FDI). Despite recent efforts by President Ndayishimiye to modernize the agricultural sector and attract investments in mining and infrastructure, significant barriers such as a largely unskilled workforce and insufficient electrification persist. The government has revised its investment code to promote quality investments, but ongoing foreign exchange shortages and a lack of reliable economic statistics continue to impede economic growth.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
