News & Analysis: Djibouti
“A partnership signed today between IFC and Djibouti-based East Africa Bank (EAB) will help EAB better mitigate financial risks which have been amplified by the COVID-19 pandemic and improve its sustainability.”
“East Africa was the continent’s most resilient region in 2020 due to less reliance on primary commodities and greater diversification compared with other parts of Africa… The region’s real GDP growth will rebound to 3% in 2021 from 0.7% in 2020, with Djibouti, Tanzania, and Rwanda as the potential top performers.”
“As rich countries race to dispense COVID-19 vaccines, poorer nations have a fear of missing out. The UK has inoculated more than 4m people while South Africa, which has also been severely struck, has yet to administer a single non-trial dose.”
“In Djibouti, food supply, being heavily dependent on imports, was reported to be affected by the households interviewed in this survey. Poor households experienced difficulty accessing basic goods to a slightly greater extent compared with non-poor households.”
“As more African countries have looked to China for financing and technical support to rapidly boost infrastructural development, there have been loud musings about the scale of China’s lending to African countries as well as the Asian giant’s motives.”
“COVID-19 has in many ways pushed the political and economic capacities of states and societies in the Horn of Africa to their limits but has in the process also displayed their resilience.”
“For sub-Saharan African economies, interest repayments constitute the highest expenditure portion – and fastest-growing expenditure – of budgets.”
“”Ethiopia has resumed air and land transportation services with Djibouti after undertaking close negotiations with its Djiboutian counterpart,” Dina Mufti, spokesperson for the Ethiopia Ministry of Foreign Affairs, told journalists.”
“COVID-19-related containment measures—together with the global recession, lower oil prices and damage to agriculture from locusts and flooding—are increasing poverty levels and jeopardizing livelihoods.”
“The African Development Bank on Friday approved grants worth about $41.16 million to Djibouti to bolster the national budget in support of government efforts to mitigate national and regional impacts of the COVID-19 pandemic.”
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