The advent of the “Arab Spring” over a decade ago fell short of addressing popular aspirations for greater economic prosperity and peace. Few of the successes in certain regions were offset by substantial detriments in countries that witnessed conflicts, civil wars, macroeconomic impairments, and socio-economic declines.

This talk will map out the major macroeconomic indices and indicators in the Arab Spring states, before and after the mobilization, in an attempt to shed a comparative light on the repercussions of the Arab Spring. Such indices include those of regulatory environment, competitiveness, corruption, human development, human capital, knowledge and innovation, entrepreneurship, research and development, public finance, financial inclusion, and e-government. The presentation will also highlight major challenges that have confronted the Arab Spring states and other embroiled Arab countries, namely: economic development and growth, fiscal deficits and sovereign-debt sustainability, unemployment, displaced populations, financial exclusion, weak safety-net programs, and informal economy. Finally, based on the events of the last decade, the talk will outline lessons learned regarding participatory democracy and good governance, social equity, independent development, civilizational renewal, and modernizing and institutionalizing the public sectors.

ABOUT THE SPEAKER

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Raed H. Charafeddine was first vice-governor at Banque du Liban, Lebanon’s central bank, from April 2009 till March 2019 and served as alternate Governor for Lebanon at the International Monetary Fund. He is currently a partner and executive board director of Vita F&B Capital, a MEA-focused strategic advisory firm. Charafeddine served as a board member and advisor for several NGOs that focus on alleviating poverty, improving education, healthcare, social justice, and women's empowerment. He was also a volunteer consultant for the United Nations Development Program in Beirut on conflict transformation. He holds a BA and an MBA from the University of North Carolina at Charlotte.