MENA

Saudi Arabia’s Giga Projects – from oil windfalls to ‘New Murraba’

Summary: Saudi Arabia’s crown prince is using giga-projects to drive forward his plan to wean the kingdom off its dependency on oil revenues; the results thus far of his Vision2030 project are mixed but if oil prices hold steady MbS may yet see some of his hugely ambitious schemes come to fruition by the end of the decade.

Dollar shortages, debts and (in)formal capital controls in MENA

Summary: roughly a quarter of countries in the Arab League, including currently suspended member Syria, are suffering from currency depreciation, a US dollar shortage and rising debt levels. Issues are being compounded by surging inflation, while in some countries (in)formal capital controls and sanctions are impacting trade and debt repayments.

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