Follow the latest in economic news and developments about Arab transition countries.
Since the political crisis erupted in Yemen in 2011, the country has begun to move towards democracy. Many challenges remain in the country, wracked by civil unrest and widespread water and food insecurity, says Bishow Parajuli, the UN World Food Programme’s representative in Yemen. [UNDP
Tunisia’s implementation of the trade facilitation agreement of the World Trade Organization (WTO) adopted since December 2013 was the main issue discussed at a ministerial meeting held Thursday under the chairmanship of Minister in charge of Co-ordination and Monitoring of Economic Affairs Nidhal Ouerfelli. Under this agreement, member countries must forward to the WTO all provisions that will come into effect from July 31, 2014. [TAP
Algeria is the leading natural gas producer in Africa, the second-largest natural gas supplier to Europe, and is among the top three oil producers in Africa. Algeria is estimated to hold the third-largest amount of shale gas resources in the world. However, gross natural gas and crude oil production have gradually declined in recent years, mainly because new production and infrastructure projects have repeatedly been delayed. [EIA
The IMF lowered its 2014 global economic growth forecast, warning of “negative surprises” from the US and China and geopolitical risks in Ukraine and the Middle East. The IMF projected global growth of 3.4 percent for this year, down from its April estimate of 3.7 percent. [IMF
Also of Interest:
WB approves $500 million loan to Egypt for natural gas project | World Bank
WB approves $300 million program to strengthen local governance in Tunisia | World Bank