Between Suez and Hormuz, North Africa faces a silent economic squeezeNorth Africa is paying an extraordinary price for a conflict it neither initiated nor controls. Any increase in oil prices immediately raises Tunisia’s import bill while placing additional strain on government finances. Higher oil prices generate larger export revenues, strengthen fiscal balances and provide governments with additional financial resources. Economic reforms that might otherwise encourage manufacturing, technology, tourism or renewable energy frequently lose momentum when oil revenues recover. Ultimately, the greatest danger facing North Africa is not simply higher oil prices or declining canal revenues.