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IMF Report on Middle East Highlights Needs for Financial Development

In its latest report on the Middle East and Central Asia the IMF has noted the current state of political and social flux and has suggested that these changes “...cannot be sustained unless they create jobs for the rapidly growing labor force and are accompanied by social policies for the most vulnerable. For growth to be sustainable, it must be inclusive and broadly shared, and not just captured by a privileged few”.  As with other parts of the world at present, the authorities are facing high and rising inflation and in some countries of this region of course this is happening at a time of acute political pressure. Hence the task of maintaining financial stability is a key issue.

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