US sanctions on Iran are causing unrest in the Middle East and North Africa (MENA) and oil price volatility is dragging regional economic growth, the International Monetary Fund (IMF) has said. The IMF warned in a biannual economic outlook report that prospects for the region are "clouded by elevated levels of uncertainty". Lower growth, volatile oil prices, high debt and conflicts constrain the outlook for #MENA economies. The IMF said economic growth in the broader region was affected by rising conflict, corruption, slow reforms, high levels of debt and continued oil price fluctuations. "For oil exporters, they are important to be less dependent on the volatility of oil price and for diversifying their economies," Azour said.

Source: The North Africa Journal April 29, 2019 07:52 UTC