Arab Spring nations are out of cash, says the IMF - The National

Egypt, Tunisia and other oil importers in the Arab world have almost run out of cash, the IMF warned yesterday.

They need an urgent injection of US$90 billion (Dh330bn) to cope with fiscal deficits, sluggish growth, rampant unemployment and high oil prices, said Masood Ahmed, the director of the IMF's Middle East and Central Asia.

The IMF still has about $35bn available to assist these countries but the rest of the money will have to come from other donors, he said. But the euro-zone crisis would limit governments' ability to tap capital markets for funds, he said.

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