International Monetary Fund. Middle East and Central Asia Dept.
Requests for Disbursement Under the Rapid Credit Facility and Debt Relief Under the Catastrophe Containment and Relief Trust-Press Release; and Staff Report; and Statement by the Executive Director for Djibouti
This Technical Assistance Report on Djibouti provides details of IMF mission to aid on the financial soundness indicators (FSI). The mission achieved the said objectives and assisted the Banking Supervision Unit (BSU) officials in the preparation of the FSI production files and the development of the metadata files. The mission held constructive discussions with the Central Bank of Djibouti staff on various other aspects of the production of statistics aimed at improving the quality of the data produced. These discussions led to the preparation of an action plan identifying the main improvements to be pursued or undertaken, with the following priority recommendations. The report also highlights that the microfinance sector is growing in Djibouti; however, access to financing remains very limited. A review of the Call Report forms revealed a number of inconsistencies. The report recommends that the BSU staff participate regularly in the FSI courses organized by the IMF.
International Monetary Fund. External Relations Dept.
Mark Allen, a U.K. national, took over the reins as Director of the IMF’s Policy Development and Review (PDR) Department in December 2003. After joining the IMF in 1974, he gained experience with member countries worldwide, serving chiefly in PDR (and its earlier incarnations), but also doing stints in the African Department and as Senior Resident Representative in Poland and Hungary. Laura Wallace spoke with him about the IMF’s efforts to inject more stability into the global economy by better staving off financial crises and resolving those that do occur more quickly and less painfully.