Mr.Martin Sommer

Mr.Allan G Auclair

Mr.Armand Fouejieu

Ms.Inutu Lukonga

Mr.Saad N Quayyum

Amir Sadeghi

Mr.Gazi H Shbaikat

Mr.Andrew J Tiffin

Mr.Bruno Versailles

This paper discusses the challenges posed by low oil prices in the MENA and CCA regions, the adjustment policies adopted so far, and remaining adjustment needs and future risks.

Policy Adjustment in MENA and CCA Oil-Exporting Countries

Learning to Live with Cheaper Oil

Risto Herrala

Mr.Bjoern Rother

Ms.Gaelle Pierre

Davide Lombardo

Ms.Priscilla Toffano

Mr.Erik Roos

Ms.Karina Manasseh

In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces unprecedented challenges, including the emergence of violent non-state actors, significant destruction, and a refugee crisis bigger than any since World War II. This paper raises awareness of the economic costs of conflicts on the countries directly involved and on their neighbors. It argues that appropriate macroeconomic policies can help mitigate the impact of conflicts in the short term, and that fostering higher and more inclusive growth can help address some of the root causes of conflicts over the long term. The paper also highlights the crucial role of external partners, including the IMF, in helping MENA countries tackle these challenges.

The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa

Mr.Allan G Auclair

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