By Masood Ahmed
(Version in عربي)
This week I’ve been traveling extensively across the region, both listening and learning. I am writing this from Dubai, where we have just launched our Regional Economic Outlook. And earlier this week, I had the opportunity to participate in the GCC Ministerial Meeting in Abu Dhabi and the World Economic Forum’s special meeting on Economic Growth and Job Creation in the Arab World in Jordan.
My core takeaway from all these events is that the underlying sense of optimism in the promise of the Arab Spring is very much there, but there is also a growing recognition that managing the short-term transition will be even more difficult with the persistence of economic pressures and rising social expectations.
Not an easy year
2011 has not been an easy year for many countries in the Middle East and North Africa. The combination of domestic unrest and external uncertainty has resulted in a marked downturn in economic activity, and this is expected to pick up only gradually over the coming year. (more…)
Filed under: Economic outlook, International Monetary Fund, Middle East | Tagged: capital markets, economic downturn, IMF, iMFdirect, inclusive growth, International Monetary Fund, jobs, macroeconomic stability, oil exporters, oil prices, Regional Economic Outlook: Middle East and North Africa, risks, social cohesion | 4 Comments »