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Middle East and Central Asia > Yemen, Republic of

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  • Type: Journal Issue x
  • Staff Discussion Notes x
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Cover Staff Discussion Notes
The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa
Mr. Bjoern Rother
,
Ms. Gaelle Pierre
,
Davide Lombardo
,
Risto Herrala
,
Ms. Priscilla Toffano
,
Mr. Erik Roos
,
Mr. Allan G Auclair
, and
Ms. Karina Manasseh
In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces unprecedented challenges, including the emergence of violent non-state actors, significant destruction, and a refugee crisis bigger than any since World War II. This paper raises awareness of the economic costs of conflicts on the countries directly involved and on their neighbors. It argues that appropriate macroeconomic policies can help mitigate the impact of conflicts in the short term, and that fostering higher and more inclusive growth can help address some of the root causes of conflicts over the long term. The paper also highlights the crucial role of external partners, including the IMF, in helping MENA countries tackle these challenges.
Keywords:
SDN; conflict country; refugee crisis; central bank; economic activity; country authorities; Middle East and North Africa; conflicts; refugees; macroeconomic policy; economic spillovers; post-conflict reconstruction; international community; MENA region; MENA country; physical capital; financial support; IMF staff calculation; growth potential; MENA conflict country; Labor markets; Infrastructure; Inflation; Middle East; North Africa; Global; East Africa; Europe
Cover Staff Discussion Notes
Is the Glass Half Empty Or Half Full?: Issues in Managing Water Challenges and Policy Instruments
Ms. Kalpana Kochhar
,
Ms. Catherine A Pattillo
,
Ms. Yan M Sun
,
Mrs. Nujin Suphaphiphat
,
Mr. Andrew J Swiston
,
Mr. Robert Tchaidze
,
Mr. Benedict J. Clements
,
Ms. Stefania Fabrizio
,
Valentina Flamini
,
Ms. Laure Redifer
, and
Mr. Harald Finger
This paper examines water challenges, a growing global concern with adverse economic and social consequences, and discusses economic policy instruments. Water subsidies provided through public utilities are estimated at about $456 billion or 0.6 percent of global GDP in 2012. The paper suggests that getting economic incentives right, notably by reforming water pricing, can go a long way towards encouraging more efficient water use and supporting needed investment, while enabling policies that protect the poor. It also discusses pricing reform options and emphasizes an integrated and holistic approach to manage water, going beyond the water sector itself. The IMF can play a helpful role in ensuring that macroeconomic policies are conducive to sound water management.
Keywords:
SDN; water use; water resource; country water price subsidy; cost recovery; demand management; natural resource; water withdrawal; Water; subsidies; externalities; public utilities; pricing reform; Water resources; Infrastructure; Agricultural sector; Water subsidies; Global; South Asia; Middle East; Sub-Saharan Africa