IMF and AUC wrap up First MENA Economic Research Conference: Steering Macroeconomic and Structural Policies in a Shifting Global Economic Landscape
IMF News, June 5, 2025
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- IMF and AUC wrap up First MENA Economic Research Conference: Steering Macroeconomic and Structural Policies in a Shifting Global Economic Landscape
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Bibliographic details
- Published: June 5, 2025
Overview
- Event: inaugural IMF MENA Economic Annual Research Conference co-organized by the International Monetary Fund (IMF) and the American University in Cairo (AUC).
- Dates: Held on May 18–19, 2025.
- Purpose: Platform for advancing rigorous research tailored to the realities of the Middle East and North Africa and for bridging global economic discussion with regional realities.
- Press Release No.: 25/180
- Publication date on page: June 5, 2025
- Contact: PRESS OFFICER: Angham Al Shami; Phone: +1 202 623-7100; Email: MEDIA@IMF.org
Key discussion themes and substantive findings
- Fiscal Policy
- Public debt described as “at historic highs.”
- Emphasis on rebuilding fiscal buffers while tackling social inequalities, aging populations, and climate pressures.
- Proposals included:
- Reforms in fiscal frameworks.
- Measures to mobilize revenues including through multinational taxation.
- More progressive tax systems.
- Monetary Policy
- Lessons from recent inflationary shocks highlighted.
- Need for more preemptive and well communicated policy responses to global shocks and sector-specific disruptions—particularly for emerging markets.
- Industrial Policy
- Renewed interest in industrial policy as a tool to drive inclusive growth, innovation, and climate resilience.
- Need to balance vertical strategies with horizontal reforms that promote private investment, trade integration, and productivity.
- Green Transition and AI
- Intersection of climate action and digital transformation debated for potential to reshape labor markets.
- Recommendations included:
- Investing in human capital.
- Developing targeted safety nets.
- Aligning policy tools to support job creation in low-emission sectors.
Consensus findings and policy recommendations
- Regional resilience hinges on:
- Institutional reforms.
- Cross-border cooperation.
- Investment in skills and innovation.
- Embedding policy in local realities is essential; both IMF and AUC pledged to champion locally grounded research and policy development.
- Call for a regional platform to:
- Connect MENA to world-class research centers.
- Provide reliable analysis and develop workable, innovative policy responses to old and new economic issues facing the region.
Notable participants and contributions
- Jihad Azour, Director of the IMF’s Middle East and Central Asia Department: highlighted trade tensions, global uncertainty, regional conflicts, and climate risks as compounding complexities for MENA policymakers; called for a regional platform for dialogue and exchange.
- AUC President Ahmad Dallal: emphasized multi‑stakeholder engagement and research rooted in regional realities.
- Panelists and attendees included global and regional academics, economists, government officials, and representatives of international and regional organizations.
- Named policymakers present:
- Rania El Mashat, minister of planning, economic development and international cooperation, Egypt.
- Youssef Boutros-Ghali, member of the Specialized Council for Economic Development, Egypt.
- Mahmoud Mohieldin, United Nations special envoy on financing the 2030 Sustainable Development Agenda.
- Martin Galstyan, governor of the Central Bank of Armenia.
- Nigel Clarke, IMF Deputy Managing Director: framed the conference as a milestone in deepening engagement between the IMF and the research and academic community and stressed alignment with local realities.
Institutional commitments and next steps
- IMF and AUC committed to:
- Deepening the link between academic research and policy development.
- Fostering multi‑stakeholder dialogue to direct expertise and resources toward the region’s most pressing challenges.
- Conference materials and recordings:
- The page advises readers to visit the conference website for more details and to rewatch Day 1 and Day 2 of the discussions.
AUC institutional profile (as presented)
- Founded in 1919.
- Described as a leading English-language, American-accredited institution of higher education and center of intellectual, social, and cultural life of the Arab world.
- Academic offerings: 39 undergraduate, 52 master’s and two PhD programs.
- Institutional characteristics: independent, nonprofit, politically non-partisan, non-sectarian and equal opportunity; fully accredited in Egypt and the United States.
Source: Press Release No. 25/180, IMF Communications Department, June 5, 2025.