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
 Aug 24 2016 - Kuwait- OPEC basket price down to USD 45.34 pbKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) VIENNA, Aug 24 (KUNA) -- The price of OPEC basket was down by 70 cents to settle at USD 45.34 per barrel Tuesday as oppose to USD 46.04 pb the day before, said a ...

 Aug 24 2016 - Kuwait top leaders express solace fo Singapore on demise of ex-presidentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Aug 24 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah has addressed a cable of condolences to Singaporean Presidnt Tony Tan on ...

 Aug 24 2016 - GCC joint institution presents works at Jordan-hosted festivalKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) AMMAN, Aug 24 (KUNA) -- The GCC Joint Programs Production Institution (GCCJPPI) will showcase three works at Jordan-hosted Third Media Festival The institution's ...

 Aug 24 2016 - Turkish Pres. says terrorism in Syria needs to stopKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) ISTANBUL, Aug 24 (KUNA) -- A military operation has been launched into Syria with the aim of putting an end to frequent attacks targeting Turkey, President Recep ...

 Aug 24 2016 - Bahrain hails support by Kuwait to kingdomKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) MANAMA, Aug 24 (KUNA) -- Bahraini Prime Minister Prince Khalifa bin Salman Al-Khalifa praised Wednesday the deeply rooted ties and support by the State of Kuwait ...

 Aug 24 2016 - Kuwait- Briefing of KUNA main news for Wednesday until 12:00 GMTKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT - His Highness the Amir Sheikh Sabah Al-Ahmad voices sorrow over powerful quake that left scores dead in Italy in cable to Italian President. ROME - ...

 Aug 24 2016 - Syrian Gov't deplores blatant Turkish interventionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) AMMAN, Aug 24 (KUNA) -- The Syrian Government on Wednesday condemned Turkey's military intervention in the country's north. Turkish ground forces, equipped with ...

 Aug 24 2016 - Kuwait head of Arab tariffs cmte for 6th timeKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) CAIRO, Aug 24 (KUNA) -- The State of Kuwait has been elected for the sixth consecutive time as chair of Arab panel charged with tackling tariff exemption namely ...

 Aug 24 2016 - Kuwait- Health Min. patients returning home completed their treatmentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, Aug 24 (KUNA) -- Minister of Health Dr. Ali Al-Obaidi said on Wednesday that Kuwaiti "patients who returned from abroad have fully completed their ...

 Aug 24 2016 - Kuwait- Gov't touts South Saad Al-Abdullah project as first Smart CityKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) By Khaled Al-Mutairi KUWAIT Aug 24, (KUNA) -- The government is working laboriously to ensure the success of the South Saad Al-Abdullah housing project, ...

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