A modest growth recovery continues for countries in the Middle East, North Africa, Afghanistan, and Pakistan region. Higher oil prices are providing support for oil-exporting countries but are adding to pressures facing oil-importing countries. Meanwhile, growth in the Caucasus and Central Asia region exceeded expectations in 2017, but momentum is set to fade. At forecasted growth rates, it will take the region nearly two decades to reach the per capita income levels of emerging Europe. Faster-than-anticipated tightening of global financial conditions and rising trade tensions cloud the outlook for both regions. (read more)