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The International Monetary Fund (IMF) expects the Middle East and North Africa (MENA) region to experience poor economic years, particularly in Saudi Arabia and Iran, the country's richest oil country.
According to a report by Bloomberg, the Arab countries are experiencing economic crises with identical characteristics in terms of high youth unemployment rate, recourse to external borrowing and rich countries are not different from the poor.
According to the International Monetary Fund (IMF), the Middle East and North Africa (MENA) region has the worst performance in the global economy since 2011, in partnership with Latin America . However, most Latin Americans can choose new governments when they are unhappy with the economic performance of their governments.
According to the IMF, the external debt of the Middle East and North Africa is higher than that of other countries in the world since 2014.
"Every painful step towards reform poses a threat to public anger," Blumberg said in a report. "Arab leaders are struggling to implement long-term solutions to the economic crises in their country."
Leaders and leaders of the region are preparing for the "worst case scenario" in Libya, Yemen and Syria, where instability and internal crises have led to fierce wars.
The IMF expects economic growth in the Middle East and North Africa to remain low, at no more than 2.4 percent by 2020, and will remain subject to many factors, including weak growth in production. oil in countries such as Saudi Arabia, US sanctions against Iran and geopolitical tensions.
Replicated Solutions in Saudi Arabia
Rich countries such as Saudi Arabia do not need IMF loans, but the kingdom uses foreign advisors to develop plans for economic change, but they are blamed for trying to get away with it. Apply "reproduced or undisclosed solutions to the economy of a country like Saudi Arabia".
The report pointed out that protests such as the strike are banned in Saudi Arabia, but the Kingdom's leaders are aware of the danger of popular anger, especially as a result of the crisis caused by the killing of journalist Jamal Khashoggi at his consulate in Istanbul (2 October).
Since the collapse of oil prices in 2014, even the wealthy governments of the Gulf countries have run deficits in their budgets, Bloomberg said.
Lack of experience
"The lack of government staff capable of implementing technical reforms, particularly in the Gulf, is one of the factors that prevent finding solutions to these economic crises," said Alia Moubayed, investment manager for the Middle East at Jefferies International.
She described solutions to the region's economic problems as "politically costly".
Several countries in the region are seeking help from foreign countries to resolve crises, while the poorest countries generally seek the IMF, which has been heavily involved in the region since the revolutions of the Arab Spring.
The IMF has granted loans to Egypt, Iraq, Jordan, Morocco and Tunisia, but has been blamed for its roles in these countries, reported Bloomberg.
Tunisia is a model
The general strike organized last week by the Tunisian General Labor Union, attended by tens of thousands of public sector employees and employees, called for an improvement in their wages and also condemned the austerity measures imposed by the fund.
The strikers in Tunisia and many people accused by the economic situation in these countries blame their governments for the IMF's "program".
For its part, the IMF supports government programs of economic reform, which mainly include the end of direct government support programs and the liberalization of the local currency, among other measures characterized by austerity measures.
"These governments, without borrowing from the IMF, use the international bond market," Bloomberg said.
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