Djibouti: First Review Under the Three: Year Arrangement Under the Poverty Reduction and Growth Facility: Staff Report; Statement by the IMF Staff Representative; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Djibouti
September 7, 2010
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The overall fiscal position improved and the reduction in domestic arrears was triple the program target. The direct impact of the global financial crisis on Djibouti has been limited. The financial system has not been affected by the global crisis, and capital adequacy has improved slightly despite increased competition. GDP growth remained strong in 2008, and inflation decelerated during the fourth quarter. The risk of external debt distress remains high. Banks remain profitable and have not been affected by the global financial crisis.
Subject: Arrears, Commercial banks, Current spending, Debt rescheduling, Expenditure, External debt, Financial institutions
Keywords: Arrears, authority, budget execution data, Commercial banks, CR, credit growth, Current spending, expenditure measure, fund staff estimate, Global, ISCR, revenue performance
Pages:
45
Volume:
2010
DOI:
Issue:
277
Series:
Country Report No. 2010/277
Stock No:
1DJIEA2010001
ISBN:
9781455203789
ISSN:
1934-7685
