The Middle East and North Africa (MENA) Region is called upon to make faster progress towards higher, more inclusive, and private sector-led growth, says a statement issued at the end of a seminar on inclusive growth, held as a follow-up to the “Call for Action” which was launched during the Annual Meetings of the World Bank and the International Monetary Fund (IMF) held in Marrakech last October.
“The region continues to need to make faster progress towards higher, more inclusive, and private sector-led growth and to generate more opportunities for all— including the youth, women, vulnerable groups and new entrepreneurs,” underlines the statement published at the end of this seminar held in Cairo.
In a release published in Washington, the IMF stresses that the event focused on implementing the Marrakech “Call for Action” to build resilience and support economic transformation in the MENA Region.
The seminar in Cairo has kick-started engagement with MENA stakeholders on how to promote inclusive and sustainable growth and build a new social contract to close the gap between the growth models of the past and the growth engines of the future, the statement adds.
“The panel provided an opportunity to discuss how to make the IMF Call for Action on Inclusive Growth in MENA, issued during the 2023 Annual Meetings in Marrakech, a reality. In particular, the panel discussed practical policy recommendations to make progress on the Call for Action’s five pillars: fostering a vibrant private sector; overhauling social protection systems; providing opportunities for the youth; easing barriers to female participation in economic life and leveraging technology and green investment as engines of growth and job creation,” the same source points out.
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