Macroeconomic fragility and data transparency in MENA
Many countries in the Middle East and North Africa were facing macroeconomic fragility even before the Covid-19 crisis. This column presents new World Bank analysis of the fiscal sustainability of several MENA countries, with the important caveat that there is a lack of data transparency about stocks of public debt in the region.
The uncertain costs of MENA’s dual shock
Countries in the Middle East and North Africa are facing both the Covid-19 pandemic and a collapse in oil prices. Given the unprecedentedly fast-evolving global health crisis and highly volatile oil price, estimating the costs of the dual shock and forecasting economy is challenging. But as this column explains, changes in forecasts can provide some information on the costs of the crises.
Data capacity and transparency in MENA: why they might matter for growth
The Middle East and North Africa region has been facing chronic low growth for decades. It is also the only part of the world where statistical capacity and data transparency have fallen since 2005: it now ranks the lowest. This column investigates the potential impact on economic growth – and the particular need for transparency during crises such as the current pandemic.
Transparency for a time of crisis and beyond
In times of crisis like the current pandemic, citizens turn to their governments for action and reliable information – but in many countries of the Middle East and North Africa, the state has lost much of its credibility. This column summarises a new report on the region’s notable lack of transparency and how that relates to the challenges of low growth, macroeconomic fragility and stagnant labour markets.
Shelter from the Middle East’s perfect storm
The Covid-19 pandemic threatens every region in the world, none more so than the Middle East. This Project Syndicate column argues that with oil prices plummeting and public health costs poised to skyrocket, the Arab world must use this tragic occasion to forge a new cooperative regional order.