Africa
IMF approves $14 mln loan for drought-hit Djibouti
February 7, 2012 · 3 Comments
WASHINGTON — The International Monetary Fund on Monday agreed to boost financing for Djibouti by another $14 million to help the country deal with the impact of a drought in the Horn of Africa and an increase in global commodity prices.
The IMF said it would immediately disburse about $9.7 million of the money to the government. In 2008, the IMF agreed a $19.6 million loan for Djibouti.
Drought late last year hit countries in the Horn of Africa including Somalia, Ethiopia, Kenya and Djibouti, putting more than 13 million people at risk of starvation.
IMF Deputy Managing Director Nemat Shafik said higher commodity prices and the drought had hit poor households the hardest.
“These shocks have hiked imports, especially on food and fuel, thus increasing the current account and external financing needs, and have put pressure on fiscal space through lower tax revenues and higher fuel subsidies,” Shafik said in a statement.
Reuters
Tuesday, Feb 7, 2012
Follow @somalilandpressBy Sahra Farah
Tags: Africa, Djibouti, Drought, International Monetary Fund
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These are one of the reasons that Gelle of Djibouti will never be the first to recognize Somaliland as an equal partners and sisters, because, he thinks by recognizing Somaliland, his country will lose all these attentions and benefits it's currently getting from the world community.
If what I am writing now is not true, I dare Gelle, to go ahead and recognize Somaliland. He will never do it , he thinks it's not in his country's
interest which I believe the opposite will be true if he recognize Somaliland.
Sxb Republic of Djibouti respect and believe the borders of Somali Republic, our brother and sisters Djibouti don't want divide Somalia rather they want unity of Somalia, colony has already divided Somalia that is enough. Somalia is one nation and must be respect that.
So where is all the port income go? Where is all the income from France and USA go? 14million is a joke and its a shame for IMF to make a big deal about this piece of pie compare to more than a billion dollar income.