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Middle Eastern Resilience: Improving Economic Activity and Defensive Characteristics
The Middle East and North Africa (MENA) region has been resilient despite ongoing geopolitical uncertainty and rising inflation, according to Franklin Templeton’s Dino Kronfol and Salah Shamma. While Ukraine and Russia are remote from the region and linkages are not direct nor easy to identify, they give their views on how local economies are faring amid the volatility.
Our fixed income team analyzes inflation trends across emerging markets, highlighting the vast heterogeneity across regions and countries. They acknowledge that a large part of the reflation story is linked to low base effects from 2020, which are transitory.
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