The government of Djibouti has launched an ambitious debt-financed investment program that would spur economic growth but also exacerbate fiscal and external debt vulnerabilities when there is already a high risk of debt distress. The authorities consider that this program is the only path towards reducing widespread poverty and unemployment; Djibouti remains critically dependent on port services and lacks natural resources and a viable agricultural sector. They concur with staff that strong growth and fiscal reform are essential to generate the substantial revenues required to service the public debt and realize the benefits of their investment plans.
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|Size: ||2.6 MB|
|Publisher: ||INTERNATIONAL MONETARY FUND|
|Date published: || 2015|
|ISBN: ||9781513513850 (DRM-EPUB)|
|Read Aloud: ||not allowed|