Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
SATURDAY, 19 APR 2014
08:09 PM Beirut time
Weather    
Beirut
22 °C
Blom Index
BLOM
1,214.01down
Middle East
Follow this story Print RSS Feed ePaper share this
IMF says peace talks key to Palestinian economy
Agence France Presse
A Palestinian collects mint at a farm in al-Qarara, Gaza Strip, Feb. 2, 2014.(AP Photo/Hatem Moussa)
A Palestinian collects mint at a farm in al-Qarara, Gaza Strip, Feb. 2, 2014.(AP Photo/Hatem Moussa)
A+ A-

OCCUPIED JERUSALEM: The International Monetary Fund said Thursday that success in Middle East peace talks could boost Palestinian economic growth while failure could cause increased debt.

“A breakthrough in the peace talks could launch major donor initiatives ... which could boost average annual real GDP growth to about 6.5 percent in 2014-19,” said an IMF report on a Jan. 28-Feb. 6 visit by its officials to Palestine.

“On the other hand, failure of the peace negotiations could trigger a political and security crisis that would lead to accelerated arrears accumulation and economic contraction,” it said.

U.S. Secretary of State John Kerry coaxed Israel and the Palestinians to the negotiating table in late July 2013 for a scheduled nine months of direct talks that will end in April.

So far, however, there has been very little visible progress.

The IMF said that if talks continue inconclusively it foresees growth in Palestinian gross domestic product growth of about 2.5 percent in 2014.

It said that last year, GDP in Palestine grew by 1.5 percent, “reflecting the impact of uncertainty regarding the Israeli-Palestinian peace process and a sharp deterioration of economic conditions in Gaza.”

It was well below a September 2013 IMF forecast of 4.5 percent.

The IMF September report said the West Bank and Gaza Strip’s economic prospects were “dim under [the] status quo,” and said Israeli restrictions on Palestinian movement and trade must be eased in order for matters to improve.

 
A version of this article appeared in the print edition of The Daily Star on February 08, 2014, on page 4.
Home Middle East
 
     
 
IMF / Palestine / Economics
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Story Summary
The International Monetary Fund said Thursday that success in Middle East peace talks could boost Palestinian economic growth while failure could cause increased debt.

The IMF said that if talks continue inconclusively it foresees growth in Palestinian gross domestic product growth of about 2.5 percent in 2014 .
Related Articles
 
 
Fate of peace talks to be clear within days: Netanyahu
 
 
IMF: U.S. driving global growth amid Brazil, Russia weakness
 
 
IMF wraps up talks on aid for Ukraine: source
 
 
Israeli peace activist Ron Pundak dies
Entities
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Saturday April 19, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Why Israeli-Palestinian talks fail
Michael Young
Michael Young
Why confuse gibberish with knowledge?
David Ignatius
David Ignatius
Echoes of 1914 characterize the Ukraine crisis
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS