Dubai International Financial Centre hosts release of Regional Economic Outlook for the Middle East and Central Asia by the International Monetary Fund

The latest Regional Economic Outlook prepared by the Middle East and Central Asia Department of the International Monetary Fund (IMF) outlines policy challenges and prospects for the region as the global economic recovery gets under way

The Dubai International Financial Centre (DIFC) will be the venue for release of the IMF’s October 2009 Regional Economic Outlook for the economies of the Middle East. The report will be released by Masood Ahmed, Director of IMF’s Middle East and Central Asia Department. The event will take place on 11th October 2009, at 9:30 am.

Dr Nasser Saidi, Chief Economist of the DIFC Authority, pointed out that: "The IMF Regional Economic Outlook for the Middle East and Central Asia is an informed and substantive analytical report on our region and its prospects. Our region has weathered the global crisis with limited damage as a result of effective contra-cyclical policies, a high level of international reserves and increasingly strong links to emerging Asia countries. However, there are lessons to be learned to reduce our vulnerability to contagion and spillover effects. As such, the REO is a document of great importance for governments, central banks, policy makers, and the private sector. It brings them up to date on what is happening in both our region and the individual states, and examines the setting and possible future scenarios for informed policy formulation and development planning by both the public and private sectors.

"The DIFC has been the platform for the unveiling of the IMF Regional Economic Outlook over the past few years, which underlines our status as the regional link in the chain of global financial hubs," the DIFC Chief Economist added.

Mr. Masood Ahmed, Director of the Middle East and Central Asia Department made the following statement: “I look forward to discussing the main findings of the report with representatives from the region's financial and business community. This dialogue has been enriching IMF's understanding of the regional economic policy issues, and I am thankful to my colleagues at the DIFC for hosting these productive discussions.  The October 2009 issue of the REO that I will present today takes stock of the impact of the crisis and assesses the implications of the improved global economic outlook for the region.”

The release of the October 2009 Regional Economic Outlook for the Middle East and Central Asia will be the second such IMF event to be hosted by the DIFC this year.

The economies in the Middle East and North Africa are recovering from the impact of financial contagion, and green shoots are beginning to appear. The Arab World is showing greater optimism about the future than during the depths of the global crisis in February.

The new IMF report—particularly its growth targets for the region—is keenly awaited.
The IMF presentation at the DIFC will be followed by a panel discussion and a Q&A session on the outlook for the region involving senior economists and analysts from the region.