Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

IMF highlights urgency for economic policy reforms in Arab countries  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 12/04/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Kuwait News Agency (KUNA)) The International Monetary Fund (IMF) released Friday a study entitled "Towards New Horizons-Arab Economic Transformation Amid Political Transitions," which highlights the urgency of "pursuing bold economic policy reforms" to achieve economic stability and generate job-creating growth in the region



The study examines the economies of Egypt, Jordan, Morocco, Yemen, Tunisia, and Libya and concludes that "the near-term economic outlook continues to be challenging and that the priority for the coming year is maintaining economic stability." IMF Managing Director Christine Lagarde affirmed that "Arab Countries in Transition have maintained economic stability while navigating through difficult economic and socio-political terrain." She noted that economic growth is "still too low and the jobs created are far too few to meet the aspirations of the people that took to the streets more than three years ago, in part to ensure better access to economic opportunity." "The priority now is to launch ambitious reforms to raise growth and make a dent in the countries' high rates of unemployment, especially among youth," she said



According to the study, unless strong economic and financial reforms are implemented, recovery will be "insufficient to reduce the region's high rates of unployment in a meaningful way, particularly among the women and youth." The study recommends focusing on three medium-term policy priorities for Arab Countries in Transition (ACTs): "creating more jobs in the near term, reducing vulnerabilities to safeguard economic stability, and setting in motion reforms to generate higher and more inclusive growth in coming years." In addition, the study finds that "a strong economic reform agenda will be essential for propelling private sector activity and fostering a more dynamic, competitive, innovation-driven, and inclusive economy." For his part, Masood Ahmed, Director of the IMF's Middle East and Central Asia Department, said today at a news conference here that "the agenda for jobs and growth in the Arab Countries in Transition has to be tackled in a complex, evolving socio-political environment."




He stressed that "countries should carefully prioritize and sequence their reforms in the context of a changing political economy that requires broad-based consensus building and buy-in from stakeholders that were previously excluded." The study affirms that "stepped-up support from the international community will also be critical, through increased financing, better access for the ACT's exports to advanced economies' markets, and broader policy advice and capacity-building.

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 Dec 9 2016 - UAE packaging paper industry to grow by 5pctMENAFN
(MENAFN) UAE paper and packaging industry is increasing fast in the MENA region, reaching a market valued at USD2.3bn and will remain an annual growth rate of 5 percent till 2019.Meanwhile, Paper ...

 Dec 9 2016 - Qatar aims USD13bn investment in infrastructure projectsMENAFN
(MENAFN) Qatar is ready to pump almost USD13bn on mega infrastructure projects in the country in the coming year with a main focus on projects related to the FIFA World Cup 2020.Moreover, the country ...

 Dec 9 2016 - GCC, UK confirm to make closer tiesMENAFN
(MENAFN) A mutual summit between GCC leaders and British Theresa May confirmed to launch the GCC-UK Strategic Partnership to enhance relations in all fields.Moreover, UK will spend more than 3bn euro ...

 Dec 9 2016 - Qatar expected to have 912,000 cars by 2020Gulf Times
(MENAFN - Gulf Times) The number of passenger cars in use in Qatar is expected to reach about 912,000 units by 2020, registering the highest annualised growth of 5.4% in the Gulf Co-operation Council ...

 Dec 9 2016 - Prime Minister condoles with Moroccan PMGulf Times
(MENAFN - Gulf Times) HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani held a telephone conversation with the Prime Minister of Morocco Abdelilah Ben ...

 Dec 9 2016 - Qatar believes in protecting religious freedom: MinisterGulf Times
(MENAFN - Gulf Times) HE the Minister of State for Foreign Affairs, Sultan bin Saad al-Muraikhi chaired Qatar's delegation to the Ninth Bali Democracy Forum, which kicked off in Bali, Indonesia, ...

 Dec 9 2016 - Qatar- Commercial Bank participates in prestigious CSR conferenceGulf Times
(MENAFN - Gulf Times) Commercial Bank, Qatar's first private bank, has participated at the annual Corporate Social Responsibility (CSR) Conference for organisations in Qatar. The CSR Conference, ...

 Dec 9 2016 - Qatar- Prime Minister honours persons with disabilitiesGulf Times
(MENAFN - Gulf Times) HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani attended a ceremony held by national institutions to support persons with ...

 Dec 9 2016 - MEC recalls KIA Optima 2016 modelGulf Times
(MENAFN - Gulf Times) The Ministry of Economy and Commerce (MEC) has announced a recall of Kia Optima, model year 2016, due to a noise in the right front axle drive shaft. The recall is being ...

 Dec 9 2016 - Qatar- Ooredoo urges public to download 'Inland Sea' applicationGulf Times
(MENAFN - Gulf Times) Ooredoo has urged those who travel or camp at the Inland Sea to download its recently-updated desert navigation app as the camping season comes to full swing. The ...

more...


 





Google

PayExpo_MENA
 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help