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amarsha5

How long can Saudi Arabia afford Yemen war? - Al-Monitor: the Pulse of the Middle East - 14 views

  • long history of political animosity; this is a history that continues until our present day.
    • joepouttu
       
      "However, as Saleh continued to kill, these countries had no choice but to issue a forceful declaration to show that they were not in favor of Saleh's relentless, murderous campaign to ignore a civil war in Yemen." pg 128
  • Yemen's treasury was burdened by the costs of unification such as paying for southern civil servants to move to the new capital, Sanaa, and paying interest on its massive debt. On top of its other economic challenges, Yemen was to absorb the shock of 800,000 returnees and their pressure on the already weak job market. With their return, the estimated $350 million a month in remittances
    • joepouttu
       
      "My father had decided to leave Eritrea and return to Yemen, his homeland, after long years of exile..." pg 110
  • Civil war broke out in the summer of 1994 in what could be interpreted as a symptom of economic failure.
  • ...20 more annotations...
  • By 1995 the Yemeni government implemented a program of macroeconomic adjustment and structural reforms with support from the World Bank and the International Monetary Fund and reduced spending on defense and civil service and cut subsidies. The Yemeni economy started showing signs of recovery and stability.
  • Masood Ahmed, director of the IMF’s Middle East and Central Asia Department, wrote in 2012 that “fiscal sustainability will be an issue” for Gulf Cooperation Council countries. In its 2012 regional economic outlook, the IMF recommended to “curtail current expenditures while protecting the poor” as a response to the risk of declining oil prices.
  • Policies to cut spending were unlikely to be introduced in a monarchy like Saudi Arabia, especially after the Arab Spring, where tax-paying citizens along with non-tax-paying Bahrainis and next-door Yemenis went out on the streets to claim their rights in shaping the policies that govern their daily lives. The risk of people demanding more political rights was growing and cutting spending was not the optimal strategy for the kingdom.
    • joepouttu
       
      "The students of Sanaa were unique, marching straight out onto the street from their classrooms and chanting, 'The people demand the fall of the President and the regime.'" pg 126
  • As the kingdom continued its generous fiscal policy by providing more benefits to its citizens in response to the people’s dissatisfaction with the economic and political situation, it ran a deficit of 3.4% of GDP in 2014 due to a fall in oil revenues.
  • The kingdom's economic reforms of raising gas and diesel prices, cutting fuel subsidies in half and supporting the introduction of a GCC-wide value-added tax might ease the pressure of sustaining a war for nine months and perhaps longer. These structural reforms were long overdue and their introduction at this time is revealing.
    • amarsha5
       
      CIG pg. 120 -> "We live in a world with many layers of linkages between countries. Nations will exchange goods and services through trade and will engage in cross-border investments from bank loans to setting up businesses. Each of these linkages can serve as a transmission mechanism in a time of crisis."
  • the political inclusion of the taxpaying citizen. It's a price the kingdom is now willing to pay, as we have seen Saudi women not only
  • and suffered an uprising fueled by anger at economic failure. The Saudi economy is trying to absorb
  • As they introduce revenue-collecting mechanisms, they should also reform mechanisms of capital transfer to the public to minimize the gap between the rich and the poor, as it is known that the poor are the most affected by tighter revenue-collecting policies. Otherwise, the Saudi war on Yemen will mark the beginning of an economic downturn that will surely spill over onto its political system in the long run.
    • joepouttu
       
      "So the young revolutionaries fight on, until all their demands are met and they are free to build their State: a state founded on social justice and equality between all citizens where Saleh's reign is just a page in the history books." pg 129
    • amarsha5
       
      CIG pg. 116 -> "Globalization, in the shape of freer trade and multinational investments, has been generally a force for good and economic prosperity. But it has also advanced, rather than harmed, social agendas"
    • ccfuentez
       
      But it became apparent that Saleh was not going to leave me to my own devices. He declared war in mid-1994, occupying the South and defeating the Socialist Party. Everything was finished, or so I believed. Its property stolen by the regime, the paper shut down, and once more I found myself broken, defeated and without hope. Worse, I was a known employee of the Socialist Party through my work at the paper. In the region where I lived agents for the regime had been hunting down and detaining anyone who had belonged to the Socialist Party or getting them fired from their jobs. Although I had not been a party member myself, just worked at a party newspaper, the regime made no distinction. My mother intervened, however, and hid me. She wouldn't let me out of the house. My mother always protects me.   (2013-12-31). Diaries of an Unfinished Revolution: Voices from Tunis to Damascus (p. 115). Penguin Publishing Group. Kindle Edition. 
    • atownen
       
      Civil War: in 1994 Jamal currently in high school, describes the times as a world, when the color of his skin would define him. The Civil War, "interpreted as a symptom of economic failure", was evident in the reading when Jamal described the lack of jobs as a college graduate, members of the socialist party were completely shut out when Saleh took the presidency, depriving hard workers the ability to integrate into the economy. 
    • ccfuentez
       
      CIG Ch. 4 -> in relation to international rulemaking on fiscal policy -> is international intervention needed to contain and reverse financial crises in countries, esp. when it comes to the human rights and economic equality of citizens
    • mcooka
       
      Relating to page 120 Sanaa could not find work after college. While his degree wasn't very fluid, he was unable to find work for about 5 years. He got into journalism which blacklisted him against the government. Now he is unemployed again. 
    • mcooka
       
      This paragraph, while not highlighted, is important to the idea of globalization and why the war is not stopping. There is a flow of revenue from these oil prices that Yemen is reliant on, but they are also competing with countries that produce higher amounts of oil. This would have happened during the time Sanaa was in College writing scathing articles
    • mcooka
       
       On page 113 around this time the author was working as a journalist for the newspaper. 
    • mcooka
       
      Related to page 129 Sanaa is still living in hiding and in poverty. The animosity keeps him in fear. 
    • csherro2
       
      Market liberalization outlook
    • csherro2
       
      When Saleh came to power he and the leader of the southern part of Yemen, Salem al-Beid, agreed to coesxist as leaders of Yemen.  WIthin weeks of this in play, Saleh began to try to make the south his and this created the civil war.  
    • csherro2
       
      Jamal notes that the standard of living in Yemen was decreasing gradually the longer Saleh stayed in power.  
    • csherro2
       
      People, including Jamal, were writing about the Saleh regime and how they were upset with them.  
    • csherro2
       
      When Saleh's son was coming into power, Jamal saw that Yemen was moving towards a monarchy, realizing that his and the country's future was in the hands of an unqualified person.  
natphan

IMF to discuss credit for Tunisia, Arab Spring's struggling star - 0 views

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    International Monetary Fund operatives are in Tunisia discussing a new line of credit for Tunisia, a nation still suffering from a destabilized government after the autocrat Zine El Abidine Ben Ali was overthrown five years ago.
kbrisba

Public Information Notice: IMF Executive Board Concludes 2012 Article IV Consultation w... - 0 views

shared by kbrisba on 20 Feb 15 - No Cached
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    In 2012 there were signs of rebound from the recession in 2011. The GDP increased by 4.8 percent, tourism and FDI started picking up in the first quarter. Exporting for Tunisia would not be as strong because of the recession in Europe. Achieving higher growth will reduce high unemployment. Directors saw a need to support economic activity while safeguarding macroeconomic stability. Directors considered that structural reforms are needed to reorient the Tunisian economy and harness its potential for higher and more inclusive growth.
jsawin

IMF Fact Sheet - 0 views

shared by jsawin on 16 Feb 15 - No Cached
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    The International Monetary Fund and the World Bank were both created at an international conference convened in Bretton Woods, New Hampshire, United States in July 1944. The goal of the conference was to establish a framework for economic cooperation and development that would lead to a more stable and prosperous global economy. While this goal remains central to both institutions, their work is constantly evolving in response to new economic developments and challenges.
jsawin

The World Bank and The International Monetary Fund | Global Exchange - 0 views

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    Global Exchange is an international human rights organization dedicated to promoting social, economic and environmental justice around the world.
wmulnea

BBC News - Opec oil output will not be cut even if price hits $20 - 0 views

  • Danny Gabay of Fathom Financial Consulting told the BBC that the oil price fall was "overwhelmingly, predominantly, if not entirely, a demand shock.
  • International Monetary Fund (IMF) economists have speculated that the low oil price could boost the global economy by up to 0.7% in 2015.
  • Opec producers believe the oil price could return to about $70 or $80 by the end of 2015 as global economic recovery boosts demand.
jsawin

IMF Fact Sheet - 1 views

shared by jsawin on 16 Feb 15 - No Cached
  •  
    The International Monetary Fund and the World Bank were both created at an international conference convened in Bretton Woods, New Hampshire, United States in July 1944. The goal of the conference was to establish a framework for economic cooperation and development that would lead to a more stable and prosperous global economy. While this goal remains central to both institutions, their work is constantly evolving in response to new economic developments and challenges.
jsawin

International Monetary Fund - YouTube - 0 views

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    Oil prices have been declining since June 2014.This trend presents new economic realities for oil-exporting countries in the middle east.
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