{
  "title": "Djibouti: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Djibouti",
  "publication": "IMF Staff Country Reports, October 23, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/10/23/djibouti-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-48743",
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  "summary": "This 2019 Article IV Consultation with Djibouti discusses that large-scale infrastructure investments and a rapid expansion of trade and logistics activities have fueled strong growth in recent years.",
  "sections": [
    {
      "heading": "Overview and context",
      "content": "- Large-scale infrastructure investments and a rapid expansion of trade and logistics activities have fueled strong growth in recent years.\n- The government implemented large-scale investments to develop transport and logistics infrastructures.\n- Combined with business climate reforms, this development strategy has positioned Djibouti to become a regional trade and logistics hub."
    },
    {
      "heading": "Growth outlook and baseline projections",
      "content": "- IMF staff’s baseline projections assume a significant reduction in debt financed public investment.\n- Growth is nonetheless projected to remain strong, driven by:\n  - rapid expansion in Ethiopia’s trade, and\n  - a pickup in private investment."
    },
    {
      "heading": "External position, debt, and vulnerabilities",
      "content": "- Fostering higher and inclusive growth and bolstering the external position require addressing impediments to private sector investment and improving external competitiveness.\n- Subjects highlighted include: Current account balance, Debt service, Debt sustainability analysis, Expenditure, External debt, Public debt.\n- Keywords and vulnerabilities noted: control debt accumulation, debt vulnerability, liability positions vis-à-vis nonresident, infrastructure investment boom, government efficiency, governance issue, public enterprise efficiency."
    },
    {
      "heading": "Critical reform priorities and policy recommendations",
      "content": "- Further enhance the business environment.\n- Promote competition.\n- Improve the governance and efficiency of public enterprises to lower factor costs, particularly in the telecommunications and electricity sectors.\n- Address impediments to private sector investment to foster higher and more inclusive growth and to strengthen the external position."
    },
    {
      "heading": "Document and access note",
      "content": "- The publication is an IMF Staff Country Report consisting of substantive analysis, projections, and policy recommendations on Djibouti’s economy.\n\nSource: Djibouti: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Djibouti, October 23, 2019.\n\n---\n\n Content in this bundle\n\n- 1djiea2019002\n  - 1djiea2019002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1djiea2019002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: October 23, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513517360.002",
    "Large-scale infrastructure investments and a rapid expansion of trade and logistics activities have fueled strong growth in recent years.",
    "The government implemented large-scale investments to develop transport and logistics infrastructures.",
    "Combined with business climate reforms, this development strategy has positioned Djibouti to become a regional trade and logistics hub.",
    "IMF staff’s baseline projections assume a significant reduction in debt financed public investment.",
    "Growth is nonetheless projected to remain strong, driven by:",
    "Fostering higher and inclusive growth and bolstering the external position require addressing impediments to private sector investment and improving external competitiveness.",
    "Subjects highlighted include: Current account balance, Debt service, Debt sustainability analysis, Expenditure, External debt, Public debt.",
    "Keywords and vulnerabilities noted: control debt accumulation, debt vulnerability, liability positions vis-à-vis nonresident, infrastructure investment boom, government efficiency, governance issue, public enterprise efficiency.",
    "Further enhance the business environment.",
    "Promote competition.",
    "Improve the governance and efficiency of public enterprises to lower factor costs, particularly in the telecommunications and electricity sectors.",
    "Address impediments to private sector investment to foster higher and more inclusive growth and to strengthen the external position.",
    "The publication is an IMF Staff Country Report consisting of substantive analysis, projections, and policy recommendations on Djibouti’s economy.",
    "**1djiea2019002**"
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