The fact that there was no market reaction to the death of Libya’s former leader, Muammar Gaddafi, is no surprise. That said, today’s events could reduce political risks in the Middle East and North Africa (MENA) region, if they lead to a swifter conclusion to the ongoing turmoil in Syria and Yemen. This in turn could improve the economic outlook for the Arab world, particularly in the resource-poor countries. In the near term, though, the fragile transitions in Egypt and Tunisia show the tough economic challenges facing those countries that have been hit by political turmoil.
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