Djibouti Resident Representative Site
Resident Representative Office in Djibouti
This web page presents information about the work of the IMF in Djibouti, including the activities of the IMF Resident Representative Office. Additional information can be found on the Djibouti and IMF country page, including IMF reports and Executive Board documents that deal with Djibouti.
News — Highlights
M Carlo Sdralevitch, a tenu aux côtés de leur représentant résident à Djibouti, M.Samba Thiam, une conférence de presse qui marquait l’achèvement de la quatrième revue duprogramme de facilité élargie pour le crédit ou FEC suivant le jargon des professionnels.
Oil exporters in the Middle East and North Africa have been directly hit by the global financial crisis through a sharp drop in oil prices and a drying up of capital inflows, but the blow has been softened by countercyclical government spending, according to the IMF’s new regional forecast.
Djibouti and the IMF
April 3, 2013
Program Note on Djibouti
Djibouti: Sixth Review Under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Djibouti
Djibouti: Fifth Review Under the Extended Credit Facility Arrangement, Request for Augmentation of Access and Rephasing, Request for Waivers of Nonobservance of Performance Criteria, and Request for Waiver of Nonobservance of Performance Criterion Resulting in Noncomplying Disbursement - Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Djibouti.
Djibouti: Fourth Review Under the Extended Credit Facility Arrangement and Request for Waivers of Nonobservance of Performance Criteria - Staff Report and Press Release.
Regional Economic Outlook: Middle East and Central Asia
The near-term economic outlook for the Middle East and North Africa region has weakened. In the oil-importing countries, many of which are Arab countries in transition, regional conflict, heightened political tensions, and delays in reforms continue to weigh on growth. In this context, the immediate policy priorities are to restore confidence and create jobs, make inroads into fiscal consolidation to restore debt sustainability and rebuild buffers, and embark on structural reforms needed to support private sector-led, job-intensive growth. Most oil-exporting countries continue to enjoy steady growth in the non-oil sector, supported in part by high levels of public spending. Although headline growth has declined because of domestic oil supply disruptions and lower global demand, a recovery in oil production is expected to lift growth next year. Increased vulnerability to a sustained decline in oil prices and intergenerational equity considerations underscore the need for countries to strengthen their fiscal buffers. Key medium-term challenges remain economic diversification and faster private-sector job-creation for nationals.
Economic activity in the Caucasus and Central Asia (CCA) is expected to continue expanding rapidly, with the CCA remaining among the fastest-growing regions in the world. Growth will be driven by a recovery in the hydrocarbon sector and firm growth in domestic demand, supported in part by stable remittance inflows. Considerable downside risks weigh on this outlook, however, stemming in particular from slower-than-expected growth in Russia, an important trading partner and source of remittance inflows. CCA economies should take advantage of the favorable near-term economic conditions to rebuild fiscal policy buffers that were eroded after the global crisis. In some cases, more exchange rate flexibility would help increase resilience to unanticipated shocks while supporting competitiveness. The positive near-term outlook is also an opportunity to strengthen policy frameworks and set in motion a process of structural transformation into dynamic emerging economies.