IMF / MIDDLE EAST AND CENTRAL ASIA ECONOMIC OUTLOOK

Preview Language:   Original
11-Apr-2021 00:02:19
The IMF announced a 4 percent pick up in the Middle East and North Africa region’s real GDP forecast and a 3.7 percent rise in the Caucasus and Central Asia’s in 2021 on Sunday in Washington, DC. However, despite the optimistic forecast, the outlook remains uncertain. IMF

Available Language: English
Type
Language
Format
Acquire
/
English
Other Formats
Description
STORY: IMF / MIDDLE EAST AND CENTRAL ASIA ECONOMIC OUTLOOK
TRT: 2:19
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 11 APRIL 2021, WASHINGTON DC

SHOTLIST:

RECENT - WASHINGTON DC

1. Wide shot, IMF building Exterior
2. Wide shot, IMF building exterior with Spring Meetings signage
3. Wide shot, studio with Azour on screen

11 APRIL 2021, WASHINGTON DC

4. SOUNDBITE (English) Jihad Azour, Director of the Middle East and Central Asia Department, IMF:
“Overall, real GDP growth for the Middle East, North Africa region is expected to pick up to 4 percent in 2021. In the Caucasus and Central Asia, output is projected to rise by 3.7 percent in 2021, returning to its pre-crisis level. Yet the outlook remains highly uncertain with the past of the pandemic and vaccination and available policy space all having a significant impact on individual country forecasts,”
5. Splitscreen, journalist and Azour
6. SOUNDBITE (English) Jihad Azour, Director of the Middle East and Central Asia Department, IMF:
“One particular concern going forward is rising government debt and growing financing pressures that have worsened in the last year. And this will constraint further policy actions. This is particularly important considering the risk of a rapid rise in U.S. bond yields, which could lead to tighter financial conditions, renewed capital outflow and higher sovereign spreads. Addressing these and other challenges will help shape the region's future,”
7. Wide shot, Taline Koranchelian speaking in studio
8. SOUNDBITE (English) Jihad Azour, Director of the Middle East and Central Asia Department, IMF:
“To exit the crisis, securing access to vaccine and supporting health system remain the most urgent imperatives. Accelerating vaccinations could boost GDP growth by 1% by 2022. Regional and international cooperation will be critical to ensuring that low-income countries are not left behind.”
9. Wide shot, Wafa Amr speaking in studio
10. SOUNDBITE (English) Jihad Azour, Director of the Middle East and Central Asia Department, IMF:
““Last year, the IMF supported the region with 17 billion dollars of financing. As countries move into the recovery phase, we remain committed, we are the partner to the region, to support the region emerge from this crisis and build a better future,”

RECENT - WASHINGTON DC

11. Pan right, street to IMF building
12. Wide shot, IMF building exterior with virtual Spring Meetings signage

STORYLINE:

The IMF announced a 4 percent pick up in the Middle East and North Africa region’s real GDP forecast and a 3.7 percent rise in the Caucasus and Central Asia’s in 2021 on Sunday (April 11th) in Washington, DC.

However, despite the optimistic forecast, the outlook remains uncertain.

“Overall, real GDP growth for the Middle East, North Africa region is expected to pick up to 4 percent in 2021. In the Caucasus and Central Asia, output is projected to rise by 3.7 percent in 2021, returning to its pre-crisis level. Yet the outlook remains highly uncertain with the past of the pandemic and vaccination and available policy space all having a significant impact on individual country forecasts,” said Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund.

Azour shed a light on what needs to be done to shape the region’s future because of the worsening rise in government debt and financing pressures caused by the pandemic.

“One particular concern going forward is rising government debt and growing financing pressures that have worsened in the last year. And this will constraint further policy actions. This is particularly important considering the risk of a rapid rise in U.S. bond yields, which could lead to tighter financial conditions, renewed capital outflow and higher sovereign spreads. Addressing these and other challenges will help shape the region's future,” explained Azour.

The speed of the recovery could be faster if vaccine production is expanded and distribution accelerated—supported by global and regional cooperation. In such a scenario, growth in the region would be boosted by roughly ¼ percentage point in 2021, accelerating to an additional ¾ percentage point in 2022.

“To exit the crisis, securing access to vaccine and supporting health system remain the most urgent imperatives. Accelerating vaccinations could boost GDP growth by 1% by 2022. Regional and international cooperation will be critical to ensuring that low-income countries are not left behind,” said Azour

Azour concluded his remarks by stressing on the IMF’s commitment to help the region. The Fund has supported the region with USD 17 billion in finance to weather the pandemic and will continue to support as well-targeted support should remain in place until the recovery is entrenched.

“Last year, the IMF supported the region with 17 billion dollars of financing. As countries move into the recovery phase, we remain committed, we are the partner to the region, to support the region emerge from this crisis and build a better future,” emphasized Azour.
Series
Category
Topical Subjects
Geographic Subjects
Creator
IMF
Alternate Title
unifeed210411a
Asset ID
2611970