The Syrian crisis could ‘lead to an economical disaster’

Annual IMF and World Bank meeting Tokyo – Shahir Idriss Director of Middle East and Central Asia fund, Masood Ahmed, announced that the International Monetary Fund (IMF) provided financial support to deal with the crisis affecting the Arab Spring countries. The IMF granted the Middle East with $200 million. Jordan received $2 billion; $6 billion went to Morocco as a precautionary loan and a $4 billion loan is being discussed for Egypt.
Masood expected the oil exporting countries in the region to record an average growth of 6.5% in 2012, indicating the limited economic activity and that the oil importing countries are at more risk.
Arabstoday asked Masood about the IMF evaluation of the economic situation in Syria and its impact on the neighbouring countries.
He said that the situation in Syria is a tragedy and the real loss is the human lives.
He added that due to the current events, the IMF was not able to send a team to Syria this year in order to access direct information needed to evaluate the economic and financial situation in Syria.
Masood believes the situation can be assessed through the oil exports and the obstacles surrounding it, which also shows in the banking sector.
He added that the Syrian economy was at risk because of the current conflicts.
Masood believes the neighbouring countries are subject to the consequences of the situation in Syria, especially Jordan and Lebanon, because of the pressure on these countries. This is due to the presence of the displaced Syrians, the trade and commerce between those countries as well as the big decrease in tourism in the region.