Lagarde: Arab countries cannot remain in transition forever « ASHARQ AL-AWSAT

Lagarde: Arab countries cannot remain in transition forever « ASHARQ AL-AWSAT:



"Arab countries currently transitioning to democracy need to issue long-term economic policies if they are to bypass this transitional stage, IMF chief Christine Lagarde said on Monday.



Speaking to Asharq Al-Awsat on the sidelines of an IMF-sponsored conference in Amman, Jordan, Lagarde said: “The transitional phase cannot last forever. [Arab] countries must build for a long-term future.”



Lagarde also called on Arab governments to enact major structural economic reforms—especially for energy and food subsidies, which cost Arab governments 237 billion US dollars annually according to IMF figures—and to open the way for greater private sector involvement in their economies. “When the private sector’s confidence in investment increases, the likelihood of job creation increases,” she said."



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