IMF Chief: Maghreb Economic Integration Could Boost Regional Growth by 1%

The Maghreb is "one of the least interconnected regions in the world economically, and its integration potential seems immense to us. The fallout would be considerable," Kristalina Georgieva, IMF Managing Director, told MAP.

According to her, strengthening integration could contribute to raising growth by an average of one percentage point in each of the Maghreb countries in the long term.

"By stimulating investment, foreign trade and growth, this integration would create the jobs that are sorely lacking in a region where one in four young people is unemployed," said Kristalina Georgieva.

However, she notes that security is a concern and jeopardizes economic growth. She hopes that "the diplomatic efforts underway will contribute to a peaceful and rapid resolution of the Libyan conflict".

In addition, the IMF director is convinced that a reduction in security problems and geopolitical uncertainty, more generally, would strengthen confidence in the Maghreb region, help attract foreign direct investment and support economic activity.

"The IMF works very closely with all the countries of the Maghreb, providing them with advice on the implementation of measures that will strengthen their economic resilience, while paving the way for higher and more inclusive growth," assured Kristalina Georgieva.