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The Dome of the Rock

The Dome of the Rock.

Resident Representative Office in West Bank and Gaza

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.

News — Highlights

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Between a Rock and a Hard Place – Recent Economic Developments in the Palestinian Economy (February 19, 2014)

The economy in the West Bank and Gaza was weaker than expected in 2013 and the outlook depends heavily on the outcome of the peace talks. In this presentation for the Palestine Economic Policy Research Institute (MAS), Udo Kock, Resident Representative for the International Monetary Fund, discusses recent economic developments and the policy challenges that lie ahead. click for more

West Bank and Gaza: Staff Report

Prepared for the September 2013 Meeting of the Ad Hoc Liaison Committee; September 11, 2013 click for more

West Bank and Gaza: Selected Issues

September 11, 2013 click for more

IMF urges the Palestinian Authority and Donors to reassess priorities (July 10, 2013)

Op ed by Christoph Duenwald, Mission Chief for West Bank and Gaza, and Udo Kock, Resident Representative for West Bank and Gaza click for more

Statement at the Conclusion of an IMF Mission to the West Bank and Gaza

A team from the International Monetary Fund (IMF) led by Christoph Duenwald visited East Jerusalem and Ramallah during June 24-July 2, 2013, to assess recent economic developments in the West Bank and Gaza, and the financial situation of the Palestinian Authority. click for more

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West Bank and Gaza and the IMF

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Statement at the Conclusion of an IMF Mission to the West Bank and Gaza

An International Monetary Fund team led by Mr. Christoph Duenwald, the Mission Chief for the West Bank and Gaza, visited East Jerusalem & Ramallah during January 28-February 6, 2014, to assess recent economic developments in the West Bank and Gaza and the financial situation of the Palestinian Authority. click for more

Statement at the Conclusion of an IMF Mission to the West Bank and Gaza

A team from the International Monetary Fund (IMF) led by Christoph Duenwald visited East Jerusalem and Ramallah during June 24-July 2, 2013, to assess recent economic developments in the West Bank and Gaza, and the financial situation of the Palestinian Authority. click for more

Recent Experience and Prospects of the Economy of the West Bank and Gaza (Brussels, March 19, 2013)

Staff Report Prepared for the Meeting of the Ad Hoc Liaison Committee. click for more

Recent Experience and Prospects of the Economy of the West Bank and Gaza (New York, September 23, 2012)

Staff Report Prepared for the Meeting of the Ad Hoc Liaison Committee click for more

Recent Experience and Prospects of the Economy of the West Bank and Gaza (Brussels, March 21, 2012)

Staff Report Prepared for the Meeting of the Ad Hoc Liaison Committee. click for more

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Regional Economic Outlook: Middle East and Central Asia

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The near-term economic outlook for the Middle East and North Africa region has weakened. In the oil-importing countries, many of which are Arab countries in transition, regional conflict, heightened political tensions, and delays in reforms continue to weigh on growth. In this context, the immediate policy priorities are to restore confidence and create jobs, make inroads into fiscal consolidation to restore debt sustainability and rebuild buffers, and embark on structural reforms needed to support private sector-led, job-intensive growth. Most oil-exporting countries continue to enjoy steady growth in the non-oil sector, supported in part by high levels of public spending. Although headline growth has declined because of domestic oil supply disruptions and lower global demand, a recovery in oil production is expected to lift growth next year. Increased vulnerability to a sustained decline in oil prices and intergenerational equity considerations underscore the need for countries to strengthen their fiscal buffers. Key medium-term challenges remain economic diversification and faster private-sector job-creation for nationals.

Economic activity in the Caucasus and Central Asia (CCA) is expected to continue expanding rapidly, with the CCA remaining among the fastest-growing regions in the world. Growth will be driven by a recovery in the hydrocarbon sector and firm growth in domestic demand, supported in part by stable remittance inflows. Considerable downside risks weigh on this outlook, however, stemming in particular from slower-than-expected growth in Russia, an important trading partner and source of remittance inflows. CCA economies should take advantage of the favorable near-term economic conditions to rebuild fiscal policy buffers that were eroded after the global crisis. In some cases, more exchange rate flexibility would help increase resilience to unanticipated shocks while supporting competitiveness. The positive near-term outlook is also an opportunity to strengthen policy frameworks and set in motion a process of structural transformation into dynamic emerging economies. Click for more

Resident Representative for the West Bank and Gaza

Udo Kock Udo Kock
IMF Resident Representative
PO Box 54842
World Bank Bldg.
Dahiet Al-Barid
Jerusalem
E-mail: UKOCK@imf.org
(Tel) 972 2 2366530
(Fax) 972 2 2366543