World Bank Online Morning Seminar #103 “MENA Economic Update, April 2021 - Living with Debt: How Institutions Can Chart a Path to Recovery in the Middle East and North Africa”

World Bank Online Morning Seminar #103 'MENA Economic Update, April 2021 - Living with Debt: How Institutions Can Chart a Path to Recovery in the Middle East and North Africa'

The COVID-19 pandemic exacerbated long-standing development challenges in the Middle East and North Africa (MENA) region, contributing to a rise in poverty, a deterioration of public finances, an increase in debt vulnerabilities, and a further erosion of trust in government.

The substantial borrowing that MENA governments incurred to finance health and social protection measures increased government debt. Countries must continue spending on health and income transfers, which will add to already high debt burdens and lead to complicated policy decisions after the pandemic recedes.

The World Bank's latest regional economic update report, entitled Living with Debt: How Institutions Can Chart a Path to Recovery in the Middle East and North Africa, details the economic devastation of the COVID-19 pandemic to date, the long-term ramifications of the resulting explosion in public debt, and the difficult choices governments will face, even as the public health crisis abates.

At this seminar, Ha Nguyen, Senior Economist, Office of the Chief Economist for Middle East and North Africa, will present the main points of the report. This seminar will be conducted in English (no interpretation into Japanese).

Date/Time:

8am-9am Thursday April 22, 2021 (Japan Standard Time)

URL for livestreaming:

https://youtu.be/UTY8SBBdbgA

Presentation material:

MENA Economic Update - April 2021 'Living with Debt: How Institutions Can Chart a Path to Recovery in the Middle East and North Africa' (PDF)

Questions to the speakers:

Please send your questions to the speakers via online form posted on the following page.

Speakers:

Ha Nguyen
Senior Economist, Office of the Chief Economist for Middle East and North Africa, World Bank

Ha Minh Nguyen is a Senior Economist in the Office of the Chief Economist for the Middle East and North Africa Region. He joined the World Bank in July 2009 as a Young Economist after earning a Ph.D. in economics from the University of Maryland, College Park. He also holds a M.A. and B.A. in economics from The University of Adelaide, Australia. His research interests are International Finance and Economic Development.

Rachel Yuting Fan
Economist, Office of the Chief Economist for Middle East and North Africa, World Bank

Rachel Yuting Fan is an Economist in the World Bank's Office of the Chief Economist for Middle East and North Africa, where she is in charge of data and statistics, and coauthored in flagship publication of MENA Economic Monitor that presents macroeconomic outlook and economic challenges for countries in the region. Prior to the current position, she was a Research Officer at the Research Department of the International Monetary Fund, where she was in charge of IMF's Primary Commodity Price System, and coauthored in multiple issues of World Economic Outlook. She graduated from Peking University with dual degree in Economics and in International Studies, before receiving her Master in Economics from the University of Virginia.

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