EconSource: Gulf Urged to Fund ‘Arab Marshall Plan’ to Contain Unrest

Follow the latest in economic news and analysis about the Arab transition countries. 

Experts have urged wealthy Gulf states to pump billions of dollars into their Arab neighbors to fend off the kind of unrest that has engulfed Syria and Iraq. Meeting at a conference in Bahrain, bankers, regional analysts and economists said massive development was needed to fight the poverty and lack of opportunities that are fuelling unrest. “At least a $100 billion is needed immediately to finance well-monitored development programs over the next five years in a bid to contain Arab unrest,” according to Ibrahim Dabdoub, a long-serving top banker. [AFP]

The IMF is “ready to establish a second program for Tunisia if requested by the next government,” said Masood Ahmed, Director of the IMF’s Middle East and Central Asia.  Amine Mati, vice president of the Middle East and Central Asia at the IMF division said that an IMF mission will begin early next week as part of the completion of the disbursement of the fifth tranche of the loan confirmation. [TAP, Tunisia IT (French)]

Egypt’s annual headline inflation rate registered 11.4 percent in August compared to 11.1 percent the previous month, state statistical body CAPMAS announced on Wednesday. The food and beverages Consumer Price Index (CPI) registered a higher increase of 11.6 percent. [Ahram Online]

Also of Interest:
Glimpse of Egypt stability enough for some to resume deals | Bloomberg
Egypt seeks to cut public debt to 80 percent of GDP by 2017: Minister | Ahram Online
Egypt Cabinet agrees to activate local Product Law | DNE
Egypt’s recovery gains pace as fiscal reforms are implemented: NBK | CPI
Jordan to develop energy production with Cyprus | JNA
EBRD provides $30 million loan to promote energy efficiency in Jordan | CTBR
Morocco’s mojo building from Moody’s to record bond yields | Bloomberg
Cost of “Tunisia Economic City” stands at $50 billion | TAP
A conference of American investors in Tunis in March 2015 | Kapitalis (French)
Tunisia Minister of Finance: Foreign investors are awaiting legislation | Kapitalis (French)