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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The World Bank puts 4 Arab countries in a "circle of concern"proposals from

    Rocky
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    The World Bank puts 4 Arab countries in a "circle of concern"proposals from Empty The World Bank puts 4 Arab countries in a "circle of concern"proposals from

    Post by Rocky Tue Feb 14, 2023 12:37 pm

    The World Bank puts 4 Arab countries in a "circle of concern"[You must be registered and logged in to see this link.]
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    [You must be registered and logged in to see this link.] |Today, 18:46 |

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    The World Bank's Vice President for the Middle East and North Africa region revealed, on Tuesday, countries that the bank is concerned about in the region.
    And according to what Farid Belhadj told Reuters today, Lebanon and Tunisia are the two countries the bank is most concerned about in the region, followed by Egypt and Jordan.
    Belhaj said, in remarks on the sidelines of the World Government Summit in Dubai, "We have a number of factors of concern in these countries," including debt levels and high inflation.
    He added, "The role of the state in the economy in the Middle East and North Africa in general has always been a matter of concern to us," adding that there is an undisclosed "part" of the public debt, referring to the debts of state-owned companies.
    He called for "transparency, because this is the only way through which reform can begin. The books should be clear."
    He added that there is a campaign for reform in Tunisia "moving forward, but at a slower pace than we would like."
    He continued by saying that although Lebanon has been suffering for a long time from high levels of public debt, the matter has become a "major problem".
    "People feel the burden of the almost complete collapse of the financial sector," Belhaj said, adding that Lebanon is "one of the places that really bothers you, as they say."
    Belhaj said that the World Bank has already allocated $900 million to Egypt in the current fiscal year, which runs until June, and will "see how things go (..) We may allocate more."
    He added that the partnership program with Egypt, which usually extends for five years, will be referred to the World Bank Board on March 21 for approval.
    Egypt announced last week that it plans to sell stakes in at least 32 state companies by the end of March 2024, which Belhaj said was important.
    Regarding reforms in the region, he said: "They do not reach the extent that we want, but I see them... progress is sometimes hindered a little, unfortunately, because of what is happening in the world. But this is the way of life."
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