IMF predicts long-term opportunities for the Middle East

28/04/2011 - Dubai Investment News Posted by Neil King
IMF predicts long-term opportunities for the Middle East

Despite the issues facing the Middle East in the short-term, the region offers long-term opportunities for investment.That is according the latest research from the International Monetary Fund (IMF), which named the Middle East and North Africa as regions likely to succeed in the coming years.The organisation said the regions have an opportunity to lay the foundations for a socially inclusive and more dynamic growth model.However, the report also claimed that in order to achieve the position, the regions must first overcome the short-term obstacles provided by unrest in certain quarters.Masood Ahmed, director of the IMF's Middle East and Central Asia department, said: "In the long run, the uprisings could give a boost to the economies in the region by setting a more inclusive growth agenda, improving governance and providing greater and more equal opportunity for its young and growing population."However, the near-term outlook is challenging and there is a pressing need to address unemployment and improve social safety nets."