This web page provides information on the activities of our office, views of IMF staff, and the relations between West Bank and Gaza and the IMF. Our latest report is available here.

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West Bank and Gaza: At a Glance

The office of the IMF Resident Representative for the West Bank and Gaza was established in July 1995, to help fulfill the IMF’s mandate to assist the Palestinian Authority as specified under the Oslo Accords. While the IMF cannot provide financial support to WBG (because it is not a member state), it has been providing policy advice in the macroeconomic, fiscal, and financial areas since 1994. The IMF has also been providing technical assistance to support capacity building in the areas of tax administration, public expenditure management, banking supervision and regulation, and macroeconomic statistics. More recently, IMF staff worked with the Palestinian Authority to develop the Palestinian Reform and Development Plan presented at the Paris Donors’ Conference in 2007 and its successor Palestinian National Development Plan, published in 2011. The IMF’s staff reports review progress in implementing these plans, with a focus on the macroeconomic and fiscal areas.

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Office Activities

  • West Bank and Gaza: Report to the Ad Hoc Liaison Committee

    Deepening rifts between key stakeholders and surging violence in Gaza imperil prospects for peace, while the economic outlook is increasingly untenable. Long-standing constraints continue to act as a brake on growth, aggravated by large aid cuts and potential revenue withholding. Gaza is suffering disproportionately, with its economy shrinking and humanitarian catastrophe unfolding. Weak growth and demographic pressures will substantially worsen unemployment, poverty, and per capita incomes. Large external imbalances will persist as restrictions impede development and add to vulnerabilities. The overriding challenge is to revive growth and alleviate poverty in the face of shrinking resources. More than ever this will depend on the Palestinian authorities, Israel, and donors coming together to ensure a comprehensive approach to reforms.

    September 17, 2018

  • Press Release: IMF Staff Concludes Visit to West Bank and Gaza

    February 20, 2018

  • West Bank and Gaza: Report to the Ad Hoc Liaison Committee

    Mounting political frictions are overshadowing attempts to revive peace talks. Details of a path forward on the peace process remain elusive and attention has shifted to preventing further violence after tensions flared in July. Domestic political frictions have deepened and Hamas did not participate in the May 2017 municipal elections in the West Bank. The difficult decision by the PA to reduce expenditures in Gaza has intensified tense domestic relations amid regional complexities. Read More

    September 11, 2017

  • Press Release: IMF Staff Concludes Visit to West Bank and Gaza

    July 24, 2017

  • West Bank and Gaza: Report to the Ad Hoc Liaison Committee

    The peace process looks increasingly vulnerable. In January, the international community reaffirmed its support to the two-state solution at the Paris Conference, although the position of the new U.S. administration is perceived as less clear. While a United Nations Security Council resolution condemned settlement activity, Israel stepped up settlement approvals in early 2017. The domestic situation remains unsettled, with municipal elections planned for May in the West Bank.

    April 18, 2017

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Regional Economic Outlook

October 19, 2020

Countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region and those in the Caucasus and Central Asia (CCA) responded to the COVID-19 pandemic with swift and stringent measures to mitigate its spread and impact but continue to face an uncertain and difficult environment. Oil exporters were particularly hard hit by a “double-whammy” of the economic impact of lockdowns and the resulting sharp decline in oil demand and prices. Containing the health crisis, cushioning income losses, and expanding social spending remain immediate priorities. However, governments must also begin to lay the groundwork for recovery and rebuilding stronger, including by addressing legacies from the crisis and strengthening inclusion.
Read the Report