IMF invites Arab nations to tackle public 'frustration'

The IMF said: "Frustration runs high over the lack of job opportunities and access to affordable, high-quality public services."

IMF invites Arab nations to tackle public 'frustration'

World Bulletin / News Desk

The International Monetary Fund is holding a two-day regional conference from Monday in Morocco with a message of reform amid growing "frustration" among the population of some Arab states.

"Rising social tensions and protests in several countries across the Middle East and North Africa are a clear indication that the aspirations of the people of the region, for opportunity, prosperity and equity, remain unfulfilled," said Jihad Azour, director of the IMF's Middle East and Central Asia department.

"Reforms are the key to address the fundamental problems that have plagued so many countries of the region for so long: low growth, high unemployment and corruption," he wrote in an analysis ahead of the conference in Marrakesh.

Unemployment in the Middle East and North Africa (MENA) region ranks among the highest in the world, with a jobless figure of more than 50 percent, largely due to the low participation of women in the workforce in conservative Arab countries.

In Marrakesh, government officials, business leaders and civil society figures will hear the IMF's priorities: to fight corruption, create jobs for the young, bring more women into economic life and boost the private sector.

"With over 60 percent of its population under the age of 30, the region desperately needs higher growth and more jobs," it said, adding that around 5.5 million young people will join the job market each year over the next five years.

Last Mod: 28 Ocak 2018, 16:06
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