News / Middle East

IMF: Economic Realities Visible on Streets, Not Spreadsheets

International Monetary Fund [IMF] Managing Director Dominique Strauss Kahn attends the IMF/World Bank spring meetings in Washington, April 15, 2011
International Monetary Fund [IMF] Managing Director Dominique Strauss Kahn attends the IMF/World Bank spring meetings in Washington, April 15, 2011

Activists in the Middle East and North Africa say a lack of opportunities and high unemployment rates, especially among the young, contributed to the tensions that erupted into popular uprisings across the region. Economists say they must look beyond spreadsheets if they want to provide the types of support that will improve the lives of individuals on the streets.

Late last year, a 26-year-old fruit vendor in Tunisia set himself on fire, hoping to highlight the indignities average people endured in order to work.

Mohammed Bouazizi's self-immolation is credited with triggering a popular uprising in his country that has since spread to other countries in North Africa and the Middle East.

Despite his university degree, Bouazizi could only find work as a street vendor, trying to earn a living as police stole his fruit or prevented him from selling his goods.  

Mustapha Nabli, the Central Bank governor in Tunisia, addressed the issue of economic disparity when he spoke Friday on a panel at the International Monetary Fund headquarters in Washington.

Nabli said he believes the uprisings in Tunisia, Egypt and elsewhere did not ultimately stem from inequality.  

"I think it's really about fairness. The revolutions took place because people felt that what was happening was unfair and lots of things [that] were happening were unfair. It was not inequality, per se, which was a problem. It was the way people were acquiring wealth, accumulating wealth which was felt to be unfair."

Fellow panelist Rashid Khalidi, a professor of Arab Studies at Columbia University in New York, said governments and the international system alike are at fault for fostering unfair economic realities.

"Obviously the elites of these countries are primarily responsible, but they were enabled and encouraged and reinforced not just by external support for repression, but by ideological support for the policies that they were following, and by a blind eye to things like corruption, by a blind eye to things like the fact that a larger and larger share of national income was going to a narrower and narrower stratum, and that's not productive," said Khalidi.

The IMF's managing director, Dominique Strauss Kahn, said countries such as Tunisia and Egypt have fairly healthy macroeconomic figures. But, Strauss Kahn said, the distribution of income and high levels of youth unemployment showed that the population at large was not reaping the economic benefits.  

"The international community needs to link more what is traditionally seen as important - economic, financial - and what is the really important thing in life - which is the people on the street," he said.

Strauss Kahn said economic experts must take into account real life if they want to help foster inclusive growth.

Egyptian pro-democracy activist Wael Ghonim agreed that the reality on the street is different than the reality presented in economists' spreadsheets. "When we read the consumer reports that say that the inflation is about 10 percent, and then I find I'm talking to my neighbor, who tells me that the price of meat is 50% higher, who am I going to believe?"

Ghonim also acknowledged that he is among the fortunate, as he holds an executive post at Google. He added that he believes Egyptian people do not want aid, but rather investment and technical expertise in order to create new, meaningful jobs that will enhance society.   

"Is job creation that we're referring to a guy making $100 for a firm that makes billions of dollars as part of profits for very few people? I think the world now got sort of like a wake-up call."

Nabli, of Tunisia's Central Bank, said people are going to be disappointed in the short term, as quality jobs are going to take time to materialize, even though the people want them now.

Follow our Middle East reports on Twitter
and discuss them on our Facebook page.

You May Like

IS Militants Release 49 Turkish Hostages

Turkey's state-run Anadolu news agency reports that no ransom was paid and no conditions accepted for the hostages' release; few details of the release are known More

Photogallery IS Attacks Send Thousands of Syrian Kurds Fleeing to Turkey

Syrian Observatory for Human Rights says more than 300 Kurdish fighters crossed into Syria from Turkey to defend a Kurdish area from attack by the Islamic militants More

3-day Lockdown to Fight Ebola Continues In Sierra Leone

Thousands of health workers are going door to door in the West African country of 6 million, informing people of how to avoid Ebola, handing out soap More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Migrants Caught in No-Man's Land Called Calaisi
X
Lisa Bryant
September 19, 2014 5:04 PM
The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching Europe. And for those forunate enough to reach a place like Calais, France, only find that their problems aren't over. Lisa Bryant has the story.
Video

Video Migrants Caught in No-Man's Land Called Calais

The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching Europe. And for those forunate enough to reach a place like Calais, France, only find that their problems aren't over. Lisa Bryant has the story.
Video

Video Westgate Siege Anniversary Brings Back Painful Memories

One year after it happened, the survivors of the terror attack on Nairobi's Westgate Shopping Mall still cannot shake the images of that tragic incident. For VOA, Mohammed Yusuf tells the story of victims still waiting for the answer to the question 'how could this happen?'
Video

Video Militant Assault in Syria Displaces Thousands of Kurds

A major assault by Islamic State militants on Kurds in Syria has sent a wave of new refugees to the Turkish border, where they were stopped by Turkish border security. Turkey is already hosting about 700,000 Syrian refugees who fled the civil war between the government and the opposition. But the government in Ankara has a history of strained relations with Turkey's Kurdish minority. Zlatica Hoke reports Turkey is asking for international help.
Video

Video CERN Accelerator Back in Business

The long upgrade of the Large Hadron Collider is over. The scientific instrument responsible for the discovery of the Higgs boson -- the so-called "God particle" -- is being brought up to speed in time for this month's 60th anniversary of the European Organization for Nuclear Research, known by its French acronym CERN. Physicists hope the accelerator will help them uncover more secrets about the origins of the universe. VOA’s George Putic reports.
Video

Video Whaling Summit Votes to Uphold Ban on Japan Whale Hunt

The International Whaling Commission, meeting in Slovenia, has voted to uphold a court ruling banning Japan from hunting whales in the Antarctic Ocean. Conservationists hailed the ruling as a victory, but Tokyo says it will submit revised plans for a whale hunt in 2015. Henry Ridgwell reports from London.
Video

Video Russian Economy Reeling After New Western Sanctions

A new wave of Western sanctions is hitting Russia’s economy hard. State-owned energy firms continue to bleed profits and Russia’s national currency plunged to a new low this week after the U.S. and the European Union announced new sanctions to punish Russia's aggressive stance in eastern Ukraine. But as Mil Arcega reports, the sanctions could also prove costly for European and American companies.
Video

Video Belgian Researchers Discover Way to Block Cancer Metastasis

Cancer remains one of the deadliest diseases, despite many new methods to combat it. Modern medicine has treatments to prevent the growth of primary tumor cells. But most cancer deaths are caused by metastasis, the stage when primary tumor cells change and move to other parts of the body. A team of Belgian scientists says it has found a way to prevent that process. Zlatica Hoke has more.
Video

Video Mogadishu's Flood of Foreign Workers Leaves Somalis Out of Work

Unemployment and conflict has forced many young Somalians out of the country in search of a better life. But a newfound stability in the once-lawless nation has created hope — and jobs — which, some say, are too often being filled by foreigners. Abdulaziz Billow reports from Mogadishu.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.
Video

Video NASA Picks Boeing, SpaceX to Carry Astronauts Into Space

The U.S. space agency, NASA, has chosen Boeing and SpaceX companies to build the next generation of spacecraft that will carry U.S. astronauts to the International Space Station by the year 2017. The deal with private industry enables NASA to end its dependence on Russia to send space crews into low Earth orbit and back. Zlatica Hoke has more.
Video

Video Future of Ukrainian Former President's Estate Uncertain

More than six months after Ukraine's former President Viktor Yanukovych fled revolution to Russia, authorities have yet to gain control of his palatial estate. Protesters occupy the grounds and opened it to tourists but they are also refusing to turn it over to the state. VOA's Daniel Schearf reports from Mezhigirya, just north of Kyiv.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid