Geography of Burkina Faso
Burkina Faso (formerly Upper Volta) is a landlocked Sahel country that shares borders with six nations. It lies between the Sahara desert and the Gulf of Guinea, south of the loop of the Niger River, mostly between latitudes 9° and 15°N (a small area is north of 15°), and longitudes 6°W and 3°E. The land is green in the south, with forests and fruit trees, and desert in the north. Most of central Burkina Faso lies on a savanna plateau, above sea level, with fields, brush, and scattered trees. Burkina Faso's game preserves—the most important of which are Arly, Nazinga, and W National Park—contain lions, elephants, hippopotamus, monkeys, common warthogs, and antelopes. Previously the endangered painted hunting dog, "Lycaon pictus" occurred in Burkina Faso, but, although the last sightings were made in Arli National Park, the species is considered extirpated from Burkina Faso. Tourism is not well developed.
Burkina Faso
Burkina Faso is part of the West African Monetary and Economic Union (UMEOA) and has adopted the CFA franc. This is issued by the Central Bank of the West African States (BCEAO), situated in Dakar, Senegal. The BCEAO manages the monetary and reserve policy of the member states, and provides regulation and oversight of financial sector and banking activity. A legal framework regarding licensing, bank activities, organizational and capital requirements, inspections and sanctions (all applicable to all countries of the Union) is in place, having been reformed significantly in 1999. Microfinance institutions are governed by a separate law, which regulates microfinance activities in all WAEMU countries. The insurance sector is regulated through the Inter-African Conference on Insurance Markets (CIMA).