Non-oil exporters redefine their links with the global economy
Egypt, Tunisia, Morocco and Jordan becoming more dependent on external borrowing than on foreign direct investments
23 July 2019 - 05:05
Cairo — A decade after the international financial crisis and local political upheavals, many of the non-oil exporting nations in the Middle East and North Africa are undergoing a process of redefinition of how they are linked with the global economy. It is not going well.
Egypt, Tunisia, Morocco and Jordan are becoming more dependent on external borrowing than on foreign direct investments compared to the pre-2008 period. This is visible with declining ratios of foreign direct investments to GDP, in contrast with increasing ratios of foreign debt to GDP and total exports...
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