Annual IMF and World Bank meeting Tokyo – Shahir Idriss Director of Middle East and Central Asia fund, Masood Ahmed, said the International Monetary Fund (IMF) provided support and funds to deal with the crisis affecting the Arab Spring countries. He said that the total fund provided reached $200 usd billion which was distributed on the Arab countries. Yemen had its part of the fund after the revolution; $2 billion was given to Jordan and $6 billion to Morocco as a preventive credit.
Currently, a $4 billion loan is being discussed with Egypt, according to Masood.
Masood expects the oil exporting countries in the region would register a total growth average of 6.5% in 2012, indicating the limited economic activity and that the oil importing countries are at more risk.
Arabstoday asked Masood about the IMF evaluation of the economic situation in Syria and its impact on the neighbourly countries.
He said the situation in Syria is a tragedy and the real loss is in the human cost and what the Syrian people are suffering.
He said due to the current events in Syria, the IMF was not able to send his team to Syria this year in order to access direct information needed to evaluate the economic and financial situation in Syria.
Masood believes the situation can be assessed through the oil exports and the obstacles surrounding it, which also shows in the banking section.
He added that the Syrian economy was much endangered because of the current conflicts.
Masood believes the neighbouring countries are subject to the consequences of the situation in Syria, specially Jordan and Lebanon, because of the stress on these countries and their treasures. This is due to the presence of the displaced Syrians, the trade and commerce between those countries as well as the big decrease in tourism in the region.