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Ms. Pritha Mitra, Amr Hosny, Gohar Minasyan, Mr. Mark Fischer, and Gohar Abajyan
Raising the Middle East and Central Asia’s long-term growth prospects is critical for meeting the region's pressing need for jobs and higher living standards.
Jahangir Amuzegar

Abstract

Not unpredictably, there is a complex energy bind as we approach the end of the twentieth century. The oil importing industrial countries have anchored their industries, their means of transportation, their home comfort—in short, their whole energy-dependent lifestyle—largely to hydrocarbon fuels. For most of these countries, as well as the majority of the oil importing developing countries, domestic oil (and gas) needs must be supplied partly or largely from abroad. The major international hydrocarbon suppliers, in turn, are limited to a relatively small group of oil exporting developing countries, most of whom are members of the Organization of Petroleum Exporting Countries (OPEC).

Jahangir Amuzegar

Abstract

For the first time in postwar history, if not indeed the history of the modern world, energy management has become an overriding global economic, strategic, and political issue. Worldwide inflation, continued slow growth of industrial economies, high and widespread unemployment, and the discouraging prospects for the poorer non-oil developing countries are often linked to the so-called energy crisis. The emergence of this phenomenon is of crucial significance not only in the internal development strategies of the major oil exporting and large oil importing countries but also in the ongoing North/South relations, the old East/West competition, and the new North/North and South/South cooperation.

Jahangir Amuzegar

Abstract

Critical choices of development strategy facing the oil exporting developing countries revolve around the prospects for and limitations of their underlying economic structure as major oil exporters. On the positive side, these countries possess some fortuitous features not shared by other developing countries. Among these is a steady and effective demand for oil paid in foreign exchange, creating a sizable and virtually painless source of national savings that is capable of underwriting domestic development as well as foreign investment and assistance. On the negative side, these countries are plagued by certain growth-impeding factors such as insufficient infrastructure facilities, insufficient skilled labor, the lack of a commensurately developed bureaucracy, and a virtual absence of capital-based indigenous technology.

International Monetary Fund
This 2005 Article IV Consultation underlies that in 2004, Libya’s macroeconomic performance was satisfactory, owing mainly to higher oil prices and increased oil output. Real GDP grew 4½ percent while consumer prices declined. The favorable developments in the oil market contributed to a significant improvement in the external current account surplus, which reached some 24 percent of GDP. In 2005, macroeconomic performance remained relatively strong. Real GDP growth was about 3½ percent, and inflation low. In contrast to previous years, economic growth is estimated to have been generated mainly in the non-oil economy.
International Monetary Fund
Libya’s macroeconomic performance in 2008 has been strong, with real GDP growth of about 4 percent, and record fiscal and external surpluses. The staff report for Libya’s 2009 Article IV Consultation underlies economic developments and policies. The outlook has been adversely affected by the global crisis mostly through a decline in oil prices and output. This outlook is subject to downside risks relating to a further worsening in global economic conditions or a wavering of the efforts to improve the quality of public expenditure and advance structural reforms.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund
Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.
International Monetary Fund
In this study, Chad’s economic developments and policies have been prepared by an IMF staff team. The recent economic developments and risks of the financial system are reported. Budget discipline has been improved by strengthening the public financial system (PFM). The views of IMF staff regarding medium-term fiscal policy, the financial sector assessment program (FSAP), and tax measures have also been accepted by the authorities. Finally, the IMF staff appraisal also outlined. In this paper, recent developments in public external debt and public domestic debt are studied.