Identifier
Created
Classification
Origin
09DJIBOUTI195
2009-03-19 15:01:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Djibouti
Cable title:
IMF OPTIMISTIC ON DJIBOUTI PRGF, ECONOMIC OUTLOOK
how-toVZCZCXRO4842 RR RUEHROV DE RUEHDJ #0195/01 0781026 ZNR UUUUU ZZH R 191501Z MAR 09 FM AMEMBASSY DJIBOUTI TO RUEHC/SECSTATE WASHDC 0206 INFO IGAD COLLECTIVE RHMFISS/CJTF HOA RUEHDJ/AMEMBASSY DJIBOUTI
UNCLAS SECTION 01 OF 02 DJIBOUTI 000195
SENSITIVE
SIPDIS
SENSITIVE
DEPARTMENT FOR AF/E, AF/EPS, AND EEB/IFD/OMA
CJTF-HOA FOR POLAD
E.O. 12958: N/A
TAGS: ECON EINV EFIN EAID SOCI DJ
SUBJECT: IMF OPTIMISTIC ON DJIBOUTI PRGF, ECONOMIC OUTLOOK
REF: 08 DJIBOUTI 567; 08 DJIBOUTI 859
DJIBOUTI 00000195 001.2 OF 002
UNCLAS SECTION 01 OF 02 DJIBOUTI 000195
SENSITIVE
SIPDIS
SENSITIVE
DEPARTMENT FOR AF/E, AF/EPS, AND EEB/IFD/OMA
CJTF-HOA FOR POLAD
E.O. 12958: N/A
TAGS: ECON EINV EFIN EAID SOCI DJ
SUBJECT: IMF OPTIMISTIC ON DJIBOUTI PRGF, ECONOMIC OUTLOOK
REF: 08 DJIBOUTI 567; 08 DJIBOUTI 859
DJIBOUTI 00000195 001.2 OF 002
1. (SBU) SUMMARY. According to a recent visiting
International Monetary Fund (IMF) delegation, Djibouti is making
solid progress under its new Poverty Reduction and Growth Facility
(PRGF) program. Despite an ongoing border conflict with Eritrea that
has cost the GODJ approximately USD 34 million in 2008, fiscal
deficit in 2008 fell to 0.8%, and Djibouti's economic growth is
projected at 5% in 2009. While pointing out that the GODJ has on a
few occasions fallen short of agreed-upon PRGF guidelines, the
delegation head praised Djiboutibs accomplishments, and said that he
hoped the small number of essentially minor, technical-level missteps
would not hold up forward momentum on the PRGF. On overall economic
outlook, the IMF delegation echoed what several GODJ interlocutors
have previously told us: Djibouti is somewhat cushioned, for now,
from the impacts of the global financial crisis, but future outlook
depends on how great a toll a global slowdown takes on trade volumes,
foreign direct investment, and external aid flows. END SUMMARY.
SENSITIVE
SIPDIS
SENSITIVE
DEPARTMENT FOR AF/E, AF/EPS, AND EEB/IFD/OMA
CJTF-HOA FOR POLAD
E.O. 12958: N/A
TAGS: ECON EINV EFIN EAID SOCI DJ
SUBJECT: IMF OPTIMISTIC ON DJIBOUTI PRGF, ECONOMIC OUTLOOK
REF: 08 DJIBOUTI 567; 08 DJIBOUTI 859
DJIBOUTI 00000195 001.2 OF 002
1. (SBU) SUMMARY. According to a recent visiting
International Monetary Fund (IMF) delegation, Djibouti is making
solid progress under its new Poverty Reduction and Growth Facility
(PRGF) program. Despite an ongoing border conflict with Eritrea that
has cost the GODJ approximately USD 34 million in 2008, fiscal
deficit in 2008 fell to 0.8%, and Djibouti's economic growth is
projected at 5% in 2009. While pointing out that the GODJ has on a
few occasions fallen short of agreed-upon PRGF guidelines, the
delegation head praised Djiboutibs accomplishments, and said that he
hoped the small number of essentially minor, technical-level missteps
would not hold up forward momentum on the PRGF. On overall economic
outlook, the IMF delegation echoed what several GODJ interlocutors
have previously told us: Djibouti is somewhat cushioned, for now,
from the impacts of the global financial crisis, but future outlook
depends on how great a toll a global slowdown takes on trade volumes,
foreign direct investment, and external aid flows. END SUMMARY.