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

G8 needs to commit 160 Billion US to Middle East and AfricaDuring 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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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...

G8 needs to commit 160 Billion US to Middle East and AfricaDuring 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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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