Middle East and Central Asia

Regional Economic Outlook, May 2009, Middle East and Central Asia

May 10, 2009

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Regional Economic Outlook, May 2009, Middle East and Central Asia, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

The global crisis is now affecting the countries in the Middle East and Central Asia region, and economic and financial vulnerabilities are rising. In the Middle East and North Africa, good economic fundamentals, appropriate policy responses, and sizable currency reserves are helping mitigate the impact of the shock. In the Caucasus and Central Asia, lower commodity prices and adverse economic developments in Russia have hit hard. The report notes that countries should prepare for the contingency of a prolonged global slowdown by supporting domestic demand for a longer period and strengthening financial systems further. In some countries with rising unemployment, it will be important to target government resources and policies on protecting the poor; in others, increased donor support will be necessary to maintain needed economic development.

Subject: Balance of payments, Banking, Commodities, Current account balance, Exchange rates, Fiscal policy, Fiscal stimulus, Foreign direct investment, Foreign exchange, Oil, Oil prices, Prices, Remittances

Keywords: Algeria, Bahrain, Broad money, CCA country, CCA headline inflation, CCA region, Central Asia and the Caucasus, Country datum, Current account balance, Europe, Exchange rates, Fiscal stimulus, Foreign direct investment, GCC subgroup, Global, Iran's projection, Kuwait, Maghreb, MEOI group, Middle East, North Africa, Oil, Oil exporter, Oil prices, Qatar, Remittances, REO

Publication Details

  • Pages:

    60

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Middle East and Central Asia

  • Stock No:

    REOMCDEA2009001

  • ISBN:

    9781589068421

  • ISSN:

    2071-4122

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