The Coming Petroleum Revenues Crisis in the MENA

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Cordesman: Coming Petroleum Revenues Crisis 3/11/16 7

Figure Five shows the sheer pressure in terms of youth seeking jobs and careers. The

current reports from the World Bank, IMF, UN, and Transparency International make it

brutally clear that governance, barriers to business development, and progress in human

development indicators has fallen far short of what is needed.

Figure Five: The “Youth Bulge”

(Percentage of Native Population Below 25)

Source: Central Intelligence Agency, World Factbook, https://www.cia.gov/library/publications/the-worldfactbook/

Iraq as a Test Case

Iraq makes a brutal test case. The central government and Kurdish zone are already

effectively bankrupt, and Iraq—like Libya, Syria, and Yemen—has long been rated as

one of the most corrupt and incompetent governments in the world. Figure Six shows the

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