Djibouti’s road to recovery

Mohamed Siad Doualeh, Djibouti’s ambassador to the US, talks to John Everington about debt restructuring efforts, the impact of regional conflict in Ethiopia and Sudan, and the country’s efforts to position itself as a regional financial hub.

by John Everington

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Q: Djibouti suspended payments on its debt in late 2022. How are discussions with the country’s creditors progressing over debt restructuring?

A: Conversations are proceeding well; we have had solid and productive talks with our creditors. They understand the impact that external shocks have had on our economy, including the internal conflict in our major trading partner Ethiopia (now thankfully heading towards a resolution), the impact of Covid-19 and then the knock-on effect of the war in Ukraine.

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John Everington

John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.