chapter  15
10 Pages

AGENDA FOR CAPITAL MARKET DEVELOPMENT IN THE ARAB REGION

An emerging market cannot succeed unless its economy does. It is important, therefore, to send a clear message to the international markets that the Arab countries are following sound fiscal and monetary policies aimed at maintaining economic stability and creating a healthy business environment. A significant improvement has taken place in those Arab countries who have embarked on structural adjustment programs. However, more needs to be done to show the world that governments of the region are pursuing credible and sustainable economic policies. Disciplined and predictable policies can foster private sector confidence by reducing concerns about policy reversals.