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IMF Confirms Participation in Bahrain Workshop

IMF Confirms Participation in Bahrain Workshop

Thursday, 6 June, 2019 - 09:15
The IMF logo is seen inside its headquarters at the end of the IMF/World Bank annual meetings in Washington, US, October 9, 2016. REUTERS/Yuri Gripas
London, Tel Aviv- Asharq Al-Awsat

The International Monetary Fund (IMF) said on Wednesday that international financial institutions will participate in a US-led conference on the Palestinian economy this month.

While the US Administration hopes that it will be a prelude to the implementation of its Middle East peace plan, the efficiency of the June 25-26 meeting has been in doubt since Palestinian leaders and businesspeople decided to boycott it over Washington’s perceived pro-Israel bias and inattention to their political demands.

The upcoming Israeli elections, escalating cross-border fighting, and Palestinian resentment over Washington’s recognition of Jerusalem as the capital of Israel make the US task in Manama more complicated.

However, the IMF, which has been operating in the West Bank and Gaza since 1995, confirmed that global financial bodies would be present in Bahrain’s workshop.

“The IMF has been invited to the meeting and expects to attend, along with other international financial institutions,” a representative said, without naming the other bodies.

The IMF, along with other donors and development banks, play a stabilizing role in the Israeli-Palestinian conflict by providing loans and credit guarantees, and policy advice to the Western-backed Palestinian Authority.

The European Bank for Reconstruction and Development (EBRD) confirmed it would have “someone” representing it in the workshop. The World Bank did not immediately respond to a request for comment.

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