{
  "title": "What the Arab Spring Has Taught Us",
  "publication": "IMF Blog, October 20, 2011",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2011/10/20/what-the-arab-spring-has-taught-us",
  "canonical": "https://www.imf.org/en/blogs/articles/2011/10/20/what-the-arab-spring-has-taught-us",
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  "summary": "Author: Masood Ahmed",
  "sections": [
    {
      "heading": "Context and overview",
      "content": "- Author: Masood Ahmed\n- Date: October 20, 2011\n- Observes an historic shift in the Middle East and North Africa (MENA) following popular uprisings that began 10 months ago, driven by desire for greater freedom and a fairer distribution of economic opportunities.\n- Acknowledges that IMF efforts focused on building macroeconomic foundations, liberalizing economic activity, and market-based reforms improved many economic indicators, but did not sufficiently address how the benefits of growth were being shared."
    },
    {
      "heading": "Clear lessons from the Arab Spring",
      "content": "- Even rapid economic growth cannot be maintained unless it is:\n  - inclusive,\n  - creates jobs for the growing labor force,\n  - accompanied by social policies for the most vulnerable.\n- For economic reforms to be sustainable, their gains must be broadly shared, not just captured by a privileged few.\n- Widespread corruption:\n  - deprives citizens of economic benefits,\n  - undermines inclusive growth.\n- Absence of transparent and fair rules of the game will inevitably undermine inclusive growth.\n- A socially inclusive agenda requires economic and financial stability."
    },
    {
      "heading": "Economic pressures and fiscal policy guidance",
      "content": "- The region has faced considerable uncertainty and economic pressures from domestic and external sources; the recent worsening of the global economy will add to these pressures.\n- Countries have stepped up spending to respond to needs and aspirations; higher spending is necessary in the short term but:\n  - it needs to be designed so it can be unwound later to sustainable levels to limit long-term fiscal consequences.\n- Given difficult economic circumstances, some countries will need official financial support."
    },
    {
      "heading": "National reform strategies and international support",
      "content": "- Countries should formulate national reform strategies to build confidence and provide a basis for sustained inclusive growth.\n- Commonly accepted goals to be encompassed in national strategies:\n  - higher, job-creating economic growth;\n  - greater social and economic inclusion;\n  - strong institutions ensuring accountability and good governance;\n  - social protection for the most vulnerable.\n- Leadership should come from countries themselves; the international community can contribute by providing an ambitious and multifaceted program of support, including:\n  - financial assistance,\n  - market access,\n  - labor mobility,\n  - credit guarantees.\n- The Deauville Partnership is noted as a potential valuable platform to drive the process forward."
    },
    {
      "heading": "IMF commitments and operational adjustments",
      "content": "- IMF stands ready to provide financial support in the amount of about $35 billion to the region’s oil-importing countries, if requested.\n- This $35 billion offer is in addition to the $38 billion pledged by the international and regional financial institutions.\n- The IMF is:\n  - expanding technical assistance,\n  - looking at how to adapt its work to reflect the lessons of the Arab Spring,\n  - taking greater consideration of how policy recommendations affect different parts of the population."
    },
    {
      "heading": "Outlook and region’s strengths",
      "content": "- While acknowledging many uncertainties and challenging months ahead, the article emphasizes potential long-term benefits of the Arab Spring.\n- Regional strengths listed:\n  - a dynamic and young labor force,\n  - vast natural resources,\n  - ancient civilizations and rich culture that attract scholars and tourists,\n  - a large regional market,\n  - an advantageous geographic position,\n  - access to some key markets.\n- The current period of transition is expected to ultimately result in improved living standards and a more prosperous future for the peoples of the region.\n\nIMF blog post: \"What the Arab Spring Has Taught Us\" by Masood Ahmed, October 20, 2011.\n\n---\n\n\n References\n\n- Economic Window\n- ticking time bomb\n- high unemployment\n- rapid economic growth cannot be maintained unless it is inclusive\n- Deauville Partnership\n\nSource: https://www.imf.org/en/blogs/articles/2011/10/20/what-the-arab-spring-has-taught-us"
    }
  ],
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    "Authors: Masood Ahmed",
    "Published: October 20, 2011",
    "Author: Masood Ahmed",
    "Date: October 20, 2011",
    "Observes an historic shift in the Middle East and North Africa (MENA) following popular uprisings that began 10 months ago, driven by desire for greater freedom and a fairer distribution of economic opportunities.",
    "Acknowledges that IMF efforts focused on building macroeconomic foundations, liberalizing economic activity, and market-based reforms improved many economic indicators, but did not sufficiently address how the benefits of growth were being shared.",
    "Even rapid economic growth cannot be maintained unless it is:",
    "For economic reforms to be sustainable, their gains must be broadly shared, not just captured by a privileged few.",
    "Widespread corruption:",
    "Absence of transparent and fair rules of the game will inevitably undermine inclusive growth.",
    "A socially inclusive agenda requires economic and financial stability.",
    "The region has faced considerable uncertainty and economic pressures from domestic and external sources; the recent worsening of the global economy will add to these pressures.",
    "Countries have stepped up spending to respond to needs and aspirations; higher spending is necessary in the short term but:",
    "Given difficult economic circumstances, some countries will need official financial support.",
    "Countries should formulate national reform strategies to build confidence and provide a basis for sustained inclusive growth.",
    "Commonly accepted goals to be encompassed in national strategies:",
    "Leadership should come from countries themselves; the international community can contribute by providing an ambitious and multifaceted program of support, including:",
    "The Deauville Partnership is noted as a potential valuable platform to drive the process forward.",
    "IMF stands ready to provide financial support in the amount of about $35 billion to the region’s oil-importing countries, if requested.",
    "This $35 billion offer is in addition to the $38 billion pledged by the international and regional financial institutions.",
    "The IMF is:",
    "While acknowledging many uncertainties and challenging months ahead, the article emphasizes potential long-term benefits of the Arab Spring.",
    "Regional strengths listed:",
    "The current period of transition is expected to ultimately result in improved living standards and a more prosperous future for the peoples of the region.",
    "[Economic Window](http://blog-montada.imf.org/)",
    "[ticking time bomb](http://www.imf.org/external/np/speeches/2010/110110.htm)",
    "[high unemployment](http://blogs.imf.org/2010/10/31/more-than-18-million-jobs-needed/)",
    "[rapid economic growth cannot be maintained unless it is inclusive](http://www.imf.org/external/index.htm)",
    "[Deauville Partnership](http://www.imf.org/external/pubs/ft/survey/so/2011/CAR091011A.htm)"
  ],
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