Djibouti is aiming for investments worth $12.4 billion between 2015 and 2020, with its sights set on expanding its port facilities and building new airports to handle more cargo and tourists. China is providing the bulk of the financing with nonconcessional or "hard" loans, and the investment has helped push Djibouti’s economic growth to 6 percent or more a year. But the International Monetary Fund has warned that high nonconcessional borrowing, which provides financial assistance on a market-based interest rate, is also driving Djibouti’s public and publicly guaranteed debt to a peak of 80 percent of gross domestic product in 2017, up from 60.5 percent in 2014.
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