The hike in interest rates by the US Federal Reserve, rising inflation levels and global macro-economic situation, combined with MENA’s central banks recently ending the targeted economic support schemes have the potential to trigger an uptick in corporate insolvencies and debt restructurings in the wider MENA region.
While MENA’s banks,have exhibited remarkable resilience and stability during the entirety of the pandemic. nevertheless, the current bag of challenges has the region’s banking sector on its toes, pushing them to adopt numerous proactive measures to mitigate potential downturn of events and restructure assets before these become NPAs.