Djibouti has a dual economy.

Djibouti's economy to grow by pct in - IMF | Reuters

On the one hand, it has a modern sector, based on rental revenue from the ports and military bases rented by foreigners. On the other hand, it still has a large informal sector.

The construction, hotel and telecommunication sectors are growing but are not yet significant.

Djibouti is developing its infrastructure, particularly its ports, to promote rapid growth and reduce poverty. Led by major investment projects, the growth of recent years 6.

Despite this upturn, extreme poverty and unemployment remain endemic. The monetary policy framework of the Central Bank of Djibouti seeks to maintain the pegged exchange rate between the Djibouti Franc DF and the U.

The existence of this framework enables the control of the inflation rate. However, the Central Bank can no longer implement independent fiscal and monetary policies.

Fiscal policies are being reviewed by the government. In , an Extended Credit Facility ECF was extended by the IMF.

Djibouti - African Financial Markets Initiative

The objectives of the ECF were to strengthen public financial management and reform the financial sector. The implementation of the ECF lowered the deficit down to 0. In , external debt reached Site search Search keyword s: Home Country Profiles East Africa Djibouti.

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