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IMF approves ESAF loan for Djibouti

    NAIROBI

    The International Monetary Fund (IMF) on Monday approved a three-year loan of about US $26.5 million for Djibouti, under its Enhanced Structural Adjustment Facility (ESAF). A statement from the organisation said the loan will support the government’s three-year economic reform programme which began in July 1999. It said the first annual loan would be disbursed in three instalments. The money was intended to strengthen macroeconomic policies and deepen structural reforms to accelerate growth, raise employment levels, reduce poverty and strengthen Djibouti’s external position, IMF’s Deputy Managing Director Shigemitsu Sugisaki said.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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