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Rudolf Hablützel

Apart from the major financial issues raised by the emergence of large surpluses in the oil-rich countries of the Middle East, important issues in economic development have arisen for them. This article identifies the significant factors that have emerged in the economies of six of these countries since 1973 in their efforts to achieve economic development through diversification of their domestic economies.

International Monetary Fund. External Relations Dept.

With Dubai hosting the IMF-World Bank Annual Meetings this year, the Middle East and North Africa (MENA) region has received particular attention. Its economic performance and strategies to reignite growth were the theme of a pre-meeting IMF Economic Forum (see page 285). There were also press briefings on the region’s economies and on the West Bank and Gaza and Afghanistan. In addition, several seminars looked in greater detail at several high-profile issues, notably jobs for the region’s burgeoning workforce, greater integration of women in the labor force, the role of oil stabilization funds, and Islamic banking.