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International Monetary Fund. Middle East and Central Asia Dept.

3.1. MENA Oil Importers: Creating Jobs for the Young Workforce The ongoing social and political events in the region highlight the urgency of addressing youth unemployment. To boost job creation and enhance the employability of young people, policymakers can in the short term bring forward labor-intensive infrastructure investments, provide tax incentives or credit guarantees to viable labor-intensive small and medium-sized enterprises, and scale up promising training programs, or introduce new well-designed and effective ones. But these measures are no

International Monetary Fund
This Selected Issues paper for Algeria analyzes the potential economic impact of Algeria’s Association Agreement with the European Union (AAEU). The paper lays out the major elements of Algeria’s AAEU and makes a comparison with other AAEUs. It discusses the potential economic implications (costs and benefits) of the agreement, and elaborates economic policy issues and challenges. The paper also takes stock of Algeria’s business climate as the authorities consider the use of the fiscal space created by higher hydrocarbon revenues to tackle Algeria’s jobs challenge.
International Monetary Fund

The Employment Challenge Facing Jordan 1 Addressing high unemployment, particularly among the young, is a longstanding challenge for Jordan. To boost job creation and enhance the employability of young people, policymakers can in the short term bring forward labor-intensive infrastructure investments, provide tax incentives or credit guarantees to viable labor-intensive small- and medium-sized enterprises, and scale up promising training programs, or introduce new well-designed and effective ones. To have a lasting effect, however, such measures have to be

International Monetary Fund
This Selected Issues Paper focuses on economic condition, energy subsidies, and oil prices in Jordan. Energy price subsidies pose a serious fiscal risk in the present context of increasing and volatile international prices. The macroeconomic situation in Jordan is closely tied to that of other countries in the Middle East. From a policy perspective, macroeconomic and structural policies in Jordan should be conducted in such a way that the vulnerability of the country to sudden stops or reversals of external income flows is reduced.
Mr. Tapio Saavalainen and Joy Mylène ten Berge
Quasi-fiscal deficits of public utility companies are common in all member countries of the Commonwealth of Independent States (CIS). They constitute a significant impediment to efficient resource allocation and endanger macroeconomic stability. This paper presents a simple framework for measuring and monitoring such deficits and highlights their macroeconomic relevance. It reviews the progress under IMF conditionality aimed at correcting these imbalances during 1993-2003. The paper suggests that the extensive conditionality under the IMF-supported programs has yielded only limited progress in reducing the energy sector's financial imbalances. In conclusion, different policy options are discussed in light of the lessons learned.
Mr. Tapio Saavalainen and Joy Mylène ten Berge

macroeconomic stability through several channels. They undermine financial discipline in government agencies and households thus weakening the effectiveness of fiscal policy and narrowing the fiscal space; keep nonviable enterprises afloat thus delaying enterprise restructuring and undermining economy-wide productivity growth; distort relative prices thus reducing incentives to save energy; distort resource allocation by locking resources in energy and capital intensive production thus crowding out labor intensive small and medium-size enterprises; increase energy

Mr. Shanaka J Peiris and Mr. Jean A. P. Clément

regard, as it enhances external competitiveness and firm-level productivity, and promotes and attracts domestic and foreign investment, including from labor-intensive small and medium-size enterprises (SMEs). Moreover, as discussed in Chapter 3 , Mozambique’s main sources of long-term growth are investment and productivity improvements. Thus, reforms to strengthen the business environment will be important if Mozambique is to sustain its remarkable pro-poor growth record once its post-conflict catch-up recovery runs its course ( World Bank, 2005a ). Promoting