Djibouti: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Djibouti

Author: International Monetary Fund. Middle East and Central Asia Dept.

Djibouti 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Djibouti

Volume/Issue: Volume 2017 Issue 087

Publication date: April 2017

ISBN: 9781475593327

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Topics covered in this book

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Labor , Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , debt , authority , public enterprise debt , investment project , resident representative , authorities endeavor , TA mission , Public enterprises , Public and publicly-guaranteed external debt , Debt sustainability analysis , Global , East Africa , Middle East , Africa

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Summary

This 2016 Article IV Consultation highlights Djibouti’s expansion of its transportation and utilities infrastructure to leverage its strategic location as a shipping hub and host to military bases. The authorities’ development strategy, Vision Djibouti 2035, aims to transform the country into a middle-income economy and a logistics and commercial hub for all of eastern Africa. Growth is estimated to have reached 6.5 percent in 2016, driven by major public sector projects: the railroad to Ethiopia, the construction of several new ports, and a water pipeline from Ethiopia. Inflation rose to 3 percent on average in 2016, reflecting increased food and service prices.