Tags: ML | Mideast | Conflict Costs

IMF Says Mideast Conflicts Wiped out gains of a Generation

Friday, 16 September 2016 10:02 AM EDT

AMMAN, Jordan (AP) — The International Monetary Fund says conflicts in the Middle East have wiped out development gains for a whole generation and that the international community must be prepared to scale up long-term development aid to rebuild infrastructure and institutions.

The fund said Friday that war and internal strife in Iraq, Libya, Syria and Yemen have worsened already high levels of unemployment and poverty, driven up inflation and damaged institutions.

The IMF report estimated that Syria's economic output is less than half of what it was in 2010, a year before the outbreak of conflict there.

Christine Lagarde, the IMF chief, wrote in a blog accompanying the report that more than $11 billion in aid pledged for Syria and region through 2020 "would not be enough given the magnitude of the crisis."

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


MiddleEast
The International Monetary Fund says conflicts in the Middle East have wiped out development gains for a whole generation and that the international community must be prepared to scale up long-term development aid to rebuild infrastructure and institutions.The fund said...
ML,Mideast,Conflict Costs
133
2016-02-16
Friday, 16 September 2016 10:02 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© 2025 Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved