Burundi Franc - BIF
The currency used in Burundi is the Burundi Franc (BIF). It is divided into 100 centimes. The symbol used for the Burundi Franc is Fbu.
- Burundi resources are scarce and the manufacturing sector is underdeveloped.
- The main sector of the economy is agriculture, which accounts for 57% of the GDP.
- 70% of the labor force works in agriculture.
- Burundi relies on humanitarian assistance.
- Top industries are soap, shoes, construction, and blankets.
- The main agricultural products are tea, cotton, bananas, beef, hides, coffee, sweet potatoes, and corn.
- Export products are tea, hides, sugar, cotton, and coffee.
- Import products are foodstuffs, petroleum products, and capital goods.
- 53% of Burundi people live below the poverty level.
- In 1997, it was estimated that Burundi had a $1.27 billion external debt.
- During the late 1990s humanitarian aid stopped because of the coup in 1996. In 1999 the embargo was lifted and countries started giving aid again.
- The inflation rate is +/- 10% and GDP growth is 4.5%.
- Belguim occupied Burundi in 1916 and the Belgian Congo Franc became the official currency.
- In 1960, the Belgian Congo Franc was replaced with the Burundi and Rwanda Franc.
- In 1964, Burundi started issuing its own Francs and notes were printed over with the word Burundi on them.
- In 1966, the word Kingdom on the 20-franc notes was replaced with the word Republic.
Symbols and Names
- Symbols: FBu
- Nicknames: none
- Centime = 1/100 of a Franc
- Bills: 10, 20, 50, 100, 500, 1,000, 2,000, 5,000, 10,000 francs
- Coins: 1, 5, 10 francs
Countries Using This Currency
Currencies Pegged To BIF