Xinhua, Rabat :
IMF chief Christine Lagarde warned Arab transition countries Thursday they are facing a jarring jobs crisis, and this must be addressed.
Speaking in Rabat, Morocco, the director general of the International Monetary Fund said youth unemployment in those countries rate averages 13 percent are among the highest in the world.
Since 2010, the number of people out of work has jumped by 1.5 million, said Lagarde addressing the Moroccan Economic, Social and Environmental Council, adding that the region faces one of the world’s biggest youth population.
Lagarde also urged the Arab transition countries to strengthen the economic middle class. In many countries such as Egypt, Jordan and Morocco, the middle class share of societal wealth is lower today than in the 1960s.
The dividends of growth have too often gone to the top, leaving too many others out in the cold, and global experience indicated that we need a strong middle class to drive an economy forward. A strong middle class sustains consumption and invests in the future, Lagarde added.
Lagarde, who praised Tunisia, Morocco and Jordan for taking steps to reform their economy said that the IMF delivered last year 55 technical assistance missions to the Arab countries in transition and committed more than 10 billion U.S. dollars in financial support.
