Turkey is emerging strongly from the Great Recession, but the Euro area crisis, a soaring current account deficit, and domestic political uncertainty threaten the economy.
With budget deficits on the rise, the Middle East and North Africa’s oil importing countries must reform their fuel subsidy programs, which benefit the rich more than the poor and waste fiscal resources.
The private sector has become the main driver of growth in the Middle East and North Africa, but more consistent and equitable regulations are needed to transform the region into a diversified, high-performance economy.
The Israeli raid on the flotilla headed for Gaza continues a pattern of diplomatic disasters that are increasingly isolating Israel on the international stage and do not augur well for its future.
Carnegie experts respond to Israel's raid on a flotilla of humanitarian aid ships bound for Gaza, warning that it threatens to destabilize relations between key actors in the region.
As the number of countries with the ambition to play a role in world affairs increases, Washington must decide whether to deal with them as legitimate global players or treat them as meddlers to be dismissed.
The formation of a new Iraqi government may still be months away, not because the issues to be negotiated will take time, but because serious negotiations do not appear to have started yet.
The post-election phase in Iraq appears even more difficult than anticipated, postponing improvements in Iraq’s long-term security and economic development.
Currently, no single party in Iraq has enough seats to form a new government. Any new government would need votes of confidence from multiple coalitions and ethnic groups. Even the leaders of the two coalitions with the largest number of seats may not have the support needed to become prime minister.
Three weeks after the election, the Iraqi High Election Commission announced the final vote count and the apportionment of seats among the lists. The announcement ends the suspense but opens a period of intense negotiating among parties which could be marred by violence.
The economic outlook for the Gulf Cooperation Council remains encouraging, but the crisis has revealed financial sector vulnerabilities that need to be addressed in order to limit future disruptions of economic growth.
Confronted with structural weaknesses, external shocks, and the Ahmadinejad administration's gross mismanagement of the economy, Iran is facing its bleakest economic prospects in nearly two decades.
The formal process that leads from the elections to the formation of a new government in Iraq is extremely complicated and bound to take time, even without taking into consideration the difficulty of forming viable political alliances.
Iraq’s election campaign is marked by the usual mixture of unrealistic promises, verbal attacks against competitors, and attempts by parties to appropriate symbols that do not properly belong to any one faction, as well as, more worryingly, the certainty voiced by all alliances that the elections will be marred by fraud.
Due to the deep divisions among the likely winners in the elections, the Shi’i parties, the March 7 elections will just be the first step in determining the distribution of power in the Iraqi political system.
Over the next year, Egypt will hold three important elections, none of which stand any chance of redistributing power in the country. Egypt needs long-term democratic reforms, and the United States can play an effective role in promoting those reforms.
For the Kurds, the forthcoming Iraqi parliamentary elections are a litmus test for the viability of the power-sharing agreement between the various political, ethnic, and religious groups in the Kurdistan region.
Though sovereign wealth funds, valued at $2.4 trillion globally, played a stabilizing role during the crisis, their widely varying governance standards may pose geopolitical risks in the future.
While Tunisian President Ben Ali’s reelection to a fifth term is a foregone conclusion, the international community must press him to institute real political change and move beyond a superficial illusion of pluralism.
In the wake of the global financial crisis, the Saudis cannot be comforted to know that their economic fortunes are so closely related to events beyond their borders. The Saudi leadership will look to the G20 process to help make these markets less volatile and easier to navigate.