Years of war, refugee flight has wrecked Middle East economies – IMF

WASHINGTON DC: Middle East economies have plunged into decline in the years of war since the Arab Spring, creating daunting economic and development challenges, the International Monetary Fund (IMF) said in a report released on Friday.

Nose-diving growth, soaring fiscal imbalances and decimated labor markets across the region call for newly concerted efforts from donor countries and coordination among humanitarian aid groups and development bodies, said the report, released ahead of a United Nations summit on the refugee crisis.