About MacroMENA
The empowerME Initiative’s MacroMENA promotes research and contributes to public policy formulation in the area of economic growth in the Middle East and North Africa (MENA) region, with a focus on sustainability, inclusivity, and gender equality. We work closely with multiple teams across the Atlantic Council, and collaborate with various international organizations to shed light on the economies of the MENA region and propose targeted policy solutions amidst the highly volatile and fast-changing global economy.
our pillars of work
Macro economic stability & growth
We help address existing economic challenges and promote pro-growth economic policies in the MENA region. We collaborate with stakeholders from the government and private sector, in addition to international organizations, to provide high quality research and policy recommendations to decision makers in the Gulf and North Africa regions.
Sustainability
We help promote the implementation of the global sustainable development goals (SDGs) in the national reform agenda of MENA countries. We assess the economic and social impact of climate change in the MENA region, while emphasizing the significant interlinkages between climate change, economic growth, poverty, inequality, and gender imbalance.
Foreign direct investment
We assess the impact of government policies on Foreign Direct Investment (FDI) in MENA countries, with a focus on the high value-added, labor intensive, and environmentally friendly industries. We assess FDI performance by country/sector, with a particular focus on the green energy and water desalination investment potential in the region.
empowerME at COP28
Live from Dubai during COP28 this past December 2023, view our two marquee events on the fundamental challenges must be addressed to truly unlock the renewable energy potential for the Middle East, North, and Sub-Saharan Africa regions.
Unleashing the green energy potential in the Middle East, North, and Sub-Saharan Africa (SSA)
Mobilizing private capital & enhancing innovation capabilities in the renewables sector of the Middle East and North Africa region
empowerME at IMF/WB Meetings
Live from Marrakesh during the IMF/WB Annual Meetings this past October 2023, view our two marquee events that discuss the economic outlook for the Middle East and North Africa regions:
A conversation with Morocco’s Nadia Fettah Alaoui & Citi’s Ebru Pakcan
A conversation with the World Bank’s Roberta Gatti
MENA Monitors: Oil & Foreign Exchange
We are starting to monitor to the fluctuations in the oil and foreign exchange markets in key MENA countries, considering the escalating geopolitical crisis in the region, in addition to the existing economic crises.
Oil price update: This month, oil prices experienced a significant increase at the beginning of July following a larger-than-expected decline in US crude inventories. West Texas Intermediate (WTI) crude oil prices peaked at $83.88, while Brent crude oil prices reached $87.34. However, towards the end of July, oil prices dropped nearly 2 percent, hitting their lowest levels in six weeks. This decline was influenced by renewed cease-fire negotiations in the Israel-Hamas conflict. The WTI price fell to $76.96, and Brent declined to $81.01.
Sources: Official Egypt exchange rate; Parallel Market Rate
Foreign exchange update: This month, the Egyptian pound continued to stabilize around LE 47-48 per US dollar. This reflects a positive market response to recent structural reforms implemented by the Egyptian government in collaboration with the International Monetary Fund (IMF). These reforms include adopting a flexible exchange rate, implementing stringent monetary and fiscal policies, and reducing infrastructure spending to curb inflation and ensure debt sustainability.
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