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International Monetary Fund. Middle East and Central Asia Dept.

Abstract

A year into the coronavirus (COVID-19) pandemic, the race between vaccine and virus entered a new phase in the Middle East and Central Asia, and the path to recovery in 2021 is expected to be long and divergent. The outlook will vary significantly across countries, depending on the pandemic’s path, vaccine rollouts, underlying fragilities, exposure to tourism and contact-intensive sectors, and policy space and actions. 2021 will be the year of policies that continue saving lives and livelihoods and promote recovery, while balancing the need for debt sustainability and financial resilience. At the same time, policymakers must not lose sight of the transformational challenges to build forward better and accelerate the creation of more inclusive, resilient, sustainable, and green economies. Regional and international cooperation will be key complements to strong domestic policies.

International Monetary Fund

Abstract

This paper discusses that during 2000–2002, the Tribunal considered a number of issues of substantive law upon which it had not previously been called upon to rule. These included interpretation of a provision of the IMF’s Staff Retirement Plan that permits the IMF, pursuant to specified procedures, to give effect to orders for family support and division of marital property issued by domestic courts. Having the benefit of the extensive pleadings of all three parties, the Tribunal rendered a decision resolving the merits of the dispute. The Tribunal considered the evidence offered by the IMF in support of the differential in benefits between the two categories of staff and concluded that the distinction was rationally related to the purposes of the employment benefits at issue. Tribunal also grappled during 2000–2002 with the complexities of its relationship to other elements of the IMF’s dispute resolution system. The IMFAT addressed the question of the admissibility before the Tribunal of an Application following dismissal of the complaint as untimely by the IMF’s Grievance Committee.

Ms. Sena Eken, Mr. Mohamed A. El-Erian, Ms. Susan Fennell, and Mr. Jean-Pierre Chauffour

Abstract

This paper provides an economic overview of the very diverse countries within the large geographical area. It highlights the economic challenges and opportunities facing the MENA region, the policies pursued by the countries in the region, and the outlook for the external environment. The paper concludes with eight policy recommendations.