A high-level seminar organized with the support of the Japan International Cooperation Agency (JICA) took place in Djibouti on October 6-7, 2026. The event brought together officials and senior staff from key financial institutions to discuss public debt management, risk analysis, and sustainable financing mechanisms. Djibouti's public debt management has become a central issue in consolidating public finances. The seminar aimed to strengthen capacities and improve risk anticipation.
The seminar was attended by Simon Mibrathu, Secretary General of the Ministry of Budget; Abdourahman Abdi Aden, Director of Public Debt; Kotohi Inoue, JICA Resident Representative in Djibouti; and a Japanese expert. Staff from the Public Debt Directorate, Ministry of Economy and Finance, and Central Bank of Djibouti also participated. The Director of Public Debt emphasized the need for rigorous, transparent, and strategic public debt management. He highlighted the importance of strengthening the skills of debt teams.
The JICA-supported seminar introduced participants to international best practices in public debt management and risk analysis. The approach aims to better assess the consequences of financing choices, evaluate debt portfolio vulnerability, and provide decision-makers with aid. JICA's Resident Representative in Djibouti reaffirmed the agency's commitment to supporting Djibouti. She noted that public debt is a major challenge for many countries, and technical cooperation aims to strengthen institutional and technical foundations for sustainable public financing.
A significant project emerged from the discussions: creating a domestic public securities market. The Secretary General of the Ministry of Budget highlighted the relevance of this project in the context of Djibouti's financial system liquidity. The goal is to bring together significant banking sector liquidity and government financing and treasury needs. The seminar program covered the main mechanisms for establishing a domestic public securities market.
Participants studied the fundamentals of public securities issuance, the legal framework, and the conditions for establishing a domestic market. They examined the operational chain of an issuance, from announcement to payment. The second day focused on advanced aspects, including repeated issuances, reopening existing lines, and bond yield analysis. Participants worked on strategies to lengthen loan maturities and reduce refinancing risk.
Practical exercises allowed participants to use portfolio analysis tools, simulate costs and risks, and measure the impact of exchange rate and interest rate shocks. At the end of the seminar, participants praised the concrete nature of the training and the quality of the exchanges. The seminar not only strengthened the immediate skills of concerned officials but also opened up broader perspectives for strategic public debt management.
The seminar contributes to laying the groundwork for a reflection on creating a domestic public securities market. This market could diversify state financing instruments and support more sustainable national economy financing. The event demonstrated Djibouti's commitment to improving public debt management and financial sustainability. The country's efforts to strengthen its financial sector and enhance cooperation with international partners like JICA are ongoing.
Key points
- Djibouti hosts a high-level seminar to enhance public debt management and risk analysis with JICA support.
- The seminar aims to strengthen capacities and improve risk anticipation in public debt management.
- A domestic public securities market is being considered to diversify state financing instruments.
