IMF's Jihad Azour on outlook for Middle East this year - Business Extra

On Wednesday, the International Monetary Fund released its Middle East and Central Asia Regional Economic Outlook which shows a divergent picture in 2022 for the region, with oil exporters such as the UAE and Saudi Arabia expected to experience robust rates of growth thanks to higher oil prices.


On Wednesday, the International Monetary Fund released its Middle East and Central Asia Regional Economic Outlook which shows a divergent picture in 2022 for the region, with oil exporters such as the UAE and Saudi Arabia expected to experience robust rates of growth thanks to higher oil prices.

Uncertainty is also increasing with the duration of the war in Ukraine a significant factor on how the rest of the Middle East and North Africa will fare amid rising inflation and growing food insecurity.

Jihad Azour, the Director of the Middle East and Central Asia Department at the IMF, told Business Extra policymakers will be required to take decisive action as vulnerable groups experience another crisis after “the huge impact” of the Covid-19 pandemic.

Hosts Mustafa Alrawi and Kelsey Warner

In this episode:

Impact of Ukraine-Russia war (1m 53s)

Uncertainty factors (4m 35s)

Is the Gulf insulated from uncertainty? (7m 8s)

Food crisis and solutions (9m 24s)

Iraq (11m 21s)

Egypt (14m)

Lebanon (16m 15s)

Tunisia (18m 45s)

Is the Middle East building resilience? (21m 20s)

Read more

Global action needed to prevent food crisis in Middle East and North Africa, warns IMF

Surging inflation and Russia-Ukraine war threaten Mena economic momentum, IMF says

Points to remember
  • Debate the issue, don't attack the person
  • Build the relationship and dialogue by seeking to find common ground
  • Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
  • Listen actively without interrupting
  • Avoid assumptions, seek understanding, ask questions
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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

What are the influencer academy modules?
  1. Mastery of audio-visual content creation. 
  2. Cinematography, shots and movement.
  3. All aspects of post-production.
  4. Emerging technologies and VFX with AI and CGI.
  5. Understanding of marketing objectives and audience engagement.
  6. Tourism industry knowledge.
  7. Professional ethics.
Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Updated: April 27, 2022, 11:51 AM