The slow political transition in the Arab Spring economies in the Middle East and North Africa (Mena) region could derail the economic stability of these countries, a senior International Monetary Fund (IMF) official said Wednesday.
"In the Arab Spring countries, political transition, pressing social demands and an adverse external environment have combined to increase the near-term risks to macro-economic stability. Events in 2011 have proved the transition is not going to be as easy as initially anticipated," said Masoud Ahmad, Director of the IMF's Middle East and Central Asia Department.
With growth faltering, unemployment rising and continued fiscal and external pressures, the IMF expects 2012 to be an equally challenging year.
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