International Monetary Fund. External Relations Dept.
India has emerged as one of the leading economic forces in the world. How can the country sustain high growth rates, while facing large fiscal deficits and debt, rural poverty, and underdeveloped infrastructure? Wanda Tseng, mission chief for India and Deputy Director, and Jerald Schiff, Division Chief for India, both of the IMF’s Asia and Pacific Department, spoke with Conny Lotze of the IMF Survey.
This paper analyzes why the Middle East and North Africa (MENA) region has lagged in growth and globalization. Despite attempts to spur recovery and initiate structural reforms, many countries in the region remain on a slow growth path, effectively sidelined from globalization and the benefits of closer economic integration with the rest of the world. The benefits from oil failed to generate a sustained growth dynamic or bring about greater regional economic integration. The paper highlights that the slowdown in economic reforms is a key factor for the economic depression in the MENA region.
Mr. Jean-Pierre Chauffour, Ms. Sena Eken, Mr. Mohamed A. El-Erian, and Ms. Susan Fennell
This is a particularly opportune time for countries in the Middle East and North Africa to implement reforms to fulfill their considerable economic potential and reap the benefits of greater globalization and integration.