Pandemic wounds healing, but scars?

Arabia Monitor Monthly
Monthly October

While countries in our region are cautiously easing lockdown measures, the pandemic is registering a second wave. In its latest economic outlook, the IMF now forecasts that GDP in the region will fall by 5% this year, an improvement on its April forecast of -6.4%. Our monthly paper analyses the latest developments in the MENA region, focusing on: 

  • The impact of the crisis on oil-exporting economies in the region, with mounting fiscal pressures and rising inflation straining dollar pegs across the GCC. 
  • The growing need for debt restructuring, as the region witnessed a new wave of sovereign debt downgrades.
  • The pressure caused by Saudi Aramco's year-end commitments on Saudi Arabia's economic diversification program.
  • The reforms implemented under Prime Minister al-Khadhimi in Iraq, made difficult to implement due to public pushback.

 

Florence Eid-Oakden, Ph.D, Chief Economist

Ghalia Al Bajali, Leila Lajevardi, Mingqiao Zhao, Analysts 

Robin Mills, Maryam Salman, Qamar Energy

Arabia Monitor’s MENA Monthly publication provides a timely snapshot of most notable recent developments in the dynamic MENA region. Our analysts get past the news to deliver the core, forward looking conclusions that markets-oriented readers look for.

To access this report, please click here.

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