Risto Herrala

Mr.Bjoern Rother

Ms.Gaelle Pierre

Davide Lombardo

Ms.Priscilla Toffano

Mr.Erik Roos

Mr.Allan G Auclair

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.Peter J Kunzel

Phil De Imus

Mr.Edward R Gemayel

Mr.Alexei P Kireyev

Farid Talishli

The Caucasus and Central Asia (CCA) countries are at an important juncture in their economic transition. Following significant economic progress during the 2000s, recent external shocks have revealed the underlying vulnerabilities of the current growth model. Lower commodity prices, weaker remittances, and slower growth in key trading partners reduced CCA growth, weakened external and fiscal balances, and raised public debt. the financial sector was also hit hard by large foreign exchange losses. while commodity prices have recovered somewhat since late 2014, to boost its economic potential, the region needs to find new growth drivers, diversify away from natural resources, remittances, and public spending, and generate much stronger private sector-led activity.

Policy Frameworks to Support Regional and Global Integration

Opening Up in the Caucasus and Central Asia

Risto Herrala

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