METAC’s resources are available to (i) identify and design measures to strengthen specific aspects of economic and financial management; (ii) prepare detailed implementation plans based on the diagnostic work conducted by IMF-Headquarters; (iii) provide policy and technical advice either by the Center’s resident advisers or by experts from the IMF roster; (iv) organize hands-on training, seminars, workshops to allow for peer-to-peer learning and disseminate good practices; (v) review proposals by governments for consistency with internationally agreed standards, and (vi) coordinate activities with other technical assistance providers.
Djibouti has been pursuing a strategy of developing infrastructure to foster growth and reduce poverty. Nevertheless, poverty and unemployment remain high, and humanitarian needs have increased with the influx of refugees, mainly from Yemen. High public investment spending has been exerting considerable pressure on public finances; and commercial banks’ loan portfolio deteriorated over the past few years, driven mainly by the bankruptcy of two private oil companies and a stricter loan classification required by the Central Bank of Djibouti (CBD). Against this background, METAC supports (i) the CBD in enhancing banks supervision and bringing up the supervisory and regulatory frameworks to best practices; (ii) the Ministry of Finance in developing a medium-term budgetary framework, improving cash planning and management, and defining a strategy related to public enterprises’ dividends; and (iii) the Directorate of Statistics and Demographic Studies in strengthening the compilation of national accounts statistics.