IMF to Hold Conference on MENA in Cairo

A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 
A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 
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IMF to Hold Conference on MENA in Cairo

A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 
A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, DC, US, November 24, 2024. REUTERS 

The International Monetary Fund (IMF) will hold the first annual Research Conference on the Middle East and North Africa (MENA) in Cairo, the global organization announced on Monday.

The conference aims to establish a forum for dialogue on pressing economic issues, promote policy-oriented academic research tailored to the needs and unique challenges of the region.

“Global shocks are adding to regional factors resulting in exceptionally uncertain economic environment for Middle East and North Africa (MENA) economies,” Jihad Azour, Director of the IMF Middle East and Central Asia Department and Pierre-Olivier Gourinchas, IMF chief economist, said in a joint statement.

They said conflicts, trade tensions, volatile commodity prices, changing climate conditions, energy transitions, rapid technological advances are altering the economic landscape of the region, posing severe challenges but also presenting opportunities for bold reforms that safeguard macroeconomic stability, build resilience, and raise living standards for all.

Therefore, the statement said, economic research is essential to provide reliable analysis and develop workable and innovative policy responses.

In this context, Azour and Gourinchas announced that the IMF will organize the annual Economic Research Conference on MENA, partnering with leading universities in the region.

The aim is to establish a forum for dialogue on pressing economic issues, promote policy-oriented academic research tailored to the needs and unique challenges of the region.

It will also provide a platform for the exchange of ideas and insights for academics, researchers, and policymakers in the MENA region and worldwide.

The inaugural conference, Steering Macroeconomic and Structural Policies in A Shifting Global Economic Landscape, will be co-organized with Onsi Sawiris School of Business at The American University in Cairo and take place in Cairo on May 18-19.

It will feature presentations and panel discussions by leading economists and policymakers, the statement said.

 

 

 



Tesla Shares Fall as Musk's 'America Party' Riles Investors

3D printed miniatures of US President Donald Trump and Elon Musk, and Tesla logo are seen in this illustration taken July 1, 2025. REUTERS/Dado Ruvic/Illustration
3D printed miniatures of US President Donald Trump and Elon Musk, and Tesla logo are seen in this illustration taken July 1, 2025. REUTERS/Dado Ruvic/Illustration
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Tesla Shares Fall as Musk's 'America Party' Riles Investors

3D printed miniatures of US President Donald Trump and Elon Musk, and Tesla logo are seen in this illustration taken July 1, 2025. REUTERS/Dado Ruvic/Illustration
3D printed miniatures of US President Donald Trump and Elon Musk, and Tesla logo are seen in this illustration taken July 1, 2025. REUTERS/Dado Ruvic/Illustration

Tesla shares fell over 3% on Monday, under pressure from investor concerns about the focus of boss Elon Musk after he announced he would form a new US political party, marking a new escalation in his feud with President Donald Trump.

Tesla stock fell over 3% in Frankfurt, pointing to another decline once premarket trading gets underway following the three-day weekend for Independence Day, Reuters said.

Veteran tech analyst Dan Ives of Wedbush said Musk was Tesla's "biggest asset" and his decision to dive deeper into politics would likely put the company's shares under pressure.

"Tesla needs Musk as CEO and its biggest asset and not heading down the political route yet again...while at the same time getting on Trump's bad side," Ives said in a note on Sunday.

"It would also not shock us if the Tesla board gets involved at some point given the political nature of this endeavor depending on how far Musk takes it."

Trump on Sunday called Musk's plans to form the "America Partyridiculous," launching new barbs at the tech billionaire and saying the Musk ally he once named to lead NASA would have presented a conflict of interest given Musk's business interests in space.