News

IMF supports Maghreb economic integration

Date: 19/11/2008
Source: MAP
The Managing Director of the International Monetary Fund (IMF) reiterated, ,here Tuesday, IMF support for the economic integration of the Arab Maghreb countries.



"IMF strongly supports Maghreb integration," underlined Strauss-Kahn in a press conference, adding that this integration is a development factor of great importance.

He went on to say that the international financial crisis requires Maghreb countries to speed up economic integration mainly through the activation of the Maghreb Bank for Investment and Foreign Trade which will contribute to developing trade exchange, facilitating capital flow and fostering the role of the private sector in the setting up of common development projects, especially in infrastructures.

Despite a "significant progress" achieved by the countries of the region during the last few years, much needs to be done in the field of trade and capital flow, Strauss-Kahn pointed out, stressing the need to achieve an economic integration despite political disputes.

The Managing Director of the IMF had visited Tripoli to participate in a conference on the economic integration in the Maghreb during which he called on Algeria and Morocco to " go beyond conflicts to make progress in economic integration".