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Mr. Andre O Santos
The objective of the paper is to assess ownership and control links in the GCC corporate sector. The analysis focuses on the integrated ownership and network arising from ownership data available in Bloomberg and GCC stock exchanges. The paper finds that ownership is concentrated in GCC public sector institutions, holding companies, financial institutions, and family groups. The paper then considers the effect of different definitions of control on the distribution of consolidated debt. Debt concentration is maximized when the wedge between ownership and control is the largest. This is the case when the largest shareholder has at least 5 percent of total shares as defined in Zingales (1994).
International Monetary Fund

This Selected Issues paper on Nigeria highlights challenges faced by the country in building on the achievements of 2004. The authorities will have to maintain macroeconomic stability while implementing ambitious structural reforms aimed at reducing the costs of doing business in Nigeria and supporting faster growth and poverty reduction. The government’s ambitious and broad-based medium-term economic reform strategy and the National Economic Empowerment and Development Strategy aim to break with the misguided government-led development paradigm of the past that created a difficult environment for the private sector.