G8 needs to commit 160 Billion US to Middle East and Africa

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During a two-day summit of the world’s G8 leaders in France this week, the head of the Middle East and Africa section of the IMF told the leaders that the region would need about $160 billion in external financing over the next three years.  Egypt and Tunisia have seen complete changes in government and many other countries such as Yemen, Oman, Bahrain and Syria are facing some degree of political unrest while Libya is engaged in a civil war.

Inflation and a decrease in investor confidence and tourism are causing economies to falter during these times of unrest, so the IMF urges the G8 to “enter into strategic partnership” with Middle Eastern and African countries “incentives are linked to a social agenda”.  The IMG itself has pledged $50 billion to the aid package and hopes the G8 countries will commit the necessary funds to avoid the economic meltdown that so often follows political upheaval.

 

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Reading Time: 1 minute

During a two-day summit of the world’s G8 leaders in France this week, the head of the Middle East and Africa section of the IMF told the leaders that the region would need about $160 billion in external financing over the next three years.  Egypt and Tunisia have seen complete changes in government and many other countries such as Yemen, Oman, Bahrain and Syria are facing some degree of political unrest while Libya is engaged in a civil war.

Reading Time: 1 minute

During a two-day summit of the world’s G8 leaders in France this week, the head of the Middle East and Africa section of the IMF told the leaders that the region would need about $160 billion in external financing over the next three years.  Egypt and Tunisia have seen complete changes in government and many other countries such as Yemen, Oman, Bahrain and Syria are facing some degree of political unrest while Libya is engaged in a civil war.

Inflation and a decrease in investor confidence and tourism are causing economies to falter during these times of unrest, so the IMF urges the G8 to “enter into strategic partnership” with Middle Eastern and African countries “incentives are linked to a social agenda”.  The IMG itself has pledged $50 billion to the aid package and hopes the G8 countries will commit the necessary funds to avoid the economic meltdown that so often follows political upheaval.

 

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