VOL. XXXVIII

NO. 39

26-JUNE-1995

Financial and Banking News

Capital Markets

Middle Eastern Capital Markets Must Be Strengthened

A former senior economist at the World Bank has described Middle Easterncapital markets, amongst others, as providing only a "veneer of financialmediation" and said that they must be improved if developing countries areto implement major infrastructural projects in the future. In a paperdelivered at a recent conference on Middle Eastern and North African power and...