Regional Economic Outlook, May 2009, Middle East and Central Asia
Middle East and Central Asia, May 10, 2009
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- Regional Economic Outlook, May 2009, Middle East and Central Asia
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Bibliographic details
- Published: May 10, 2009
- Series: Middle East and Central Asia
- DOI: https://doi.org/10.5089/9781589068421.086
Overview of the shock and regional impact
- 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.
- Rising unemployment in some countries is highlighted as a growing concern.
Key findings and analysis
- Countries in the region face increasing economic and financial vulnerabilities as a result of the global crisis.
- Differences across subregions:
- Middle East and North Africa: relatively insulated by good fundamentals, policy responses, and sizable currency reserves.
- Caucasus and Central Asia: significantly affected by lower commodity prices and adverse developments in Russia.
- The report underscores contingency planning for a prolonged global slowdown.
Policy recommendations and priorities
- Prepare for the contingency of a prolonged global slowdown by:
- Supporting domestic demand for a longer period.
- Strengthening financial systems further.
- Social protection and targeting:
- In countries with rising unemployment, target government resources and policies on protecting the poor.
- External support:
- In some countries, increased donor support will be necessary to maintain needed economic development.
Thematic coverage (subjects emphasized)
- Balance of payments
- Banking
- Commodities
- Current account balance
- Exchange rates
- Fiscal policy
- Fiscal stimulus
- Foreign direct investment
- Foreign exchange
- Oil and Oil prices
- Prices
- Remittances
Source: Regional Economic Outlook, May 2009, Middle East and Central Asia (May 10, 2009).
Content in this bundle
- Regional Economic Outlook: Middle East and Central Asia; May 2009.
- Regional Economic Outlook: Middle Easter and Central Asia
References
- https://www.imf.org/en/publications/reo/meca
- United Arab Emirates and the IMF
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- Balance of payments
- Banking
- Commodities
- Current account balance
- Exchange rates
- Fiscal policy
- Fiscal stimulus
- Foreign direct investment
- Foreign exchange
- Oil
- Oil prices
- Prices
- Remittances
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