March 20, 2019

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  • EBRD and emerging Arab democracies

    BY AMIRA SALAH-AHMED London/Cairo: As the European Bank for Reconstruction and Development (EBRD) seeks to extend its mandate to the Southern and Eastern Mediterranean (SEMED) region, many are wary that the bank will carry over its inglorious legacy of broad privatization in Eastern Europe. In their own defense, EBRD executives say they are ready to do things differently by focusing on “supporting the private sector and SMEs.” The rhetoric may have changed, but some argue that it is merely a new means to the same end. The new region eyed by EBRD includes Egypt, Tunisia, Jordan and Morocco; the first…

    EBRD battles slowing growth

    BY AMIRA SALAH-AHMED London/Cairo: The European Bank for Reconstruction and Development’s (EBRD) latest economic outlook for the transition region, which for the first time includes the four Southern and Eastern Mediterranean (SEMED) countries, forecasts an expansion of 3.1 percent in 2012, down from 4.6 percent in 2011. The bank’s economists see only a modest pick up to 3.7 percent the following year. Besides entering into the turbulent SEMED economies and the unstable political climate in which they exist, the bank is also juggling a Eurozone crisis of unprecedented proportions and immitigable consequences, a new president expected to shake things up…

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