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
 Jun 28 2016 - US dollar stable against Kuwaiti dinar at KD 0.301, euro rises to KD 0.334Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 28 (KUNA) -- The US dollar on Tuesday stabilized against the Kuwaiti dinar at KD 0.301, as the euro rose to KD 0.334, compared to Monday''s trades, ...

 Jun 28 2016 - Kuwait- His Highness Premier Sheikh Jaber Al-Mubarak hosts outgoing Armenian ambassadorKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 28 (KUNA) -- His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah received on Tuesday the outgoing Armenian Ambassador to the ...

 Jun 28 2016 - 8 wounded in Turkey car blastKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) ISTANBUL, June 28 (KUNA) -- A booby-trapped car blew up in Diyarbakr in southeastern Turkey on Tuesday wounding at least eight persons, the Ekhlas news agency ...

 Jun 28 2016 - Juncker calls on Cameron to clarify situationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) BRUSSELS, June 28 (KUNA) -- President of the European Commission Jean-Claude Juncker said here Tuesday that he will ask British Prime Minister David Cameron ...

 Jun 28 2016 - French shares rebound strongly after early steep lossesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) PARIS, June 28 (KUNA) -- Share prices on the Paris Stock Exchange rebounded strongly by almost 3.0 percent in morning trading Tuesday, following a lost of nearly ...

 Jun 28 2016 - Kuwait Foreign Ministry condemns bombings in LebanonKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 28 (KUNA) -- The Foreign Ministry on Tuesday expressed strong condemnation of the terrorist blasts that occurred close to the Lebanese custom ...

 Jun 28 2016 - Kuwait's Al-Najat Charity offers Eid aid to Syrian refugees in JordanKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) AMMAN, June 28 (KUNA) -- Kuwait-based Al-Najat Charity on Tuesday started offering relief aid to Syrian refugees in Jordan for the Muslim holy fasting month of ...

 Jun 28 2016 - Jerusalem holy site closed to non-Muslims after violenceThe Peninsula
(MENAFN - The Peninsula) Israeli security forces stand guard at the entrance of theAl-Aqsamosque compound in Jerusalem''s Old City, on June 27, 2016, following a second day of clashes between Israeli ...

 Jun 28 2016 - Suicide bomber kills nine at Iraq Sunni mosque: officialsThe Peninsula
(MENAFN - The Peninsula) Baghdad:A suicide bomber detonated explosives at a Sunni mosque near Baghdad where worshippers were gathered for prayers, killing at least nine people, officials said ...

 Jun 28 2016 - Assad's uncle charged in Paris with corruption: anti-graft groupThe Peninsula
(MENAFN - The Peninsula) Paris:Paris prosecutors have charged the uncle of Syrian President Bashar al-Assad with corruption, an anti-graft group said Tuesday. Rifaat al-Assad, 78, who was ...

more...


 





Google

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

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