IMF and The Centre for Economic Growth at INSEAD host a discussion on the Regional Economic Outlook and the GCC Diversification Strategy

Monday 31 October 2016

Dubai - MENA Herald: INSEAD, one of the world’s leading business schools, in partnership with the Centre for Economic Growth at INSEAD (CEG), hosted Dr. Masood Ahmed, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), at its Middle East Campus to present the regional economic outlook and economic challenges facing the region to business leaders and representatives from the international community.

Dr. Masood Ahmed addressed the audience outlining the key findings from the 2016 Regional Economic Outlook, REO, for the Middle East, North Africa and Pakistan, MENAP, for 2016, on behalf of the International Monetary Fund, IMF. Dr. Masood Ahmed addressed the key issues facing the region including conflicts and low oil prices and their impact on the economies of the region.

“Despite recent increases, oil prices are projected to remain low over the coming years. Oil exporters are making strides in adjusting their fiscal positions, much remains to be done. In oil importers, macroeconomic stabilization has advanced, thanks to sound policies and lower oil prices, yet reforms need to be accelerated to be able to further boost inclusive growth and jobs,” Masood told the audience.

Miguel Lobo, Director of the INSEAD Middle East Campus and Associate Professor of Decision Sciences, INSEAD, commented “the IMF’s applied research work is essential for policy makers and continues to be invaluable to academic researchers and for business planning — all the more in a region where the availability of reliable data continues to be an issue”.

Speaking about the event, Patricia McCall, Executive Director of the Centre for Economic Growth added "We are honoured to host Dr. Masood Ahmed and provide a platform to discuss the economic issues our region is facing including diversification, driving job creation and providing for inclusive growth”.

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