Arabs do not want to give money to save the Euro Area
It is unlikely that Arab Monetary Fund / Arab Monetary Fund (AMF) / can provide financial assistance to countries in the euro area, suggested Sunday Director General and Chairman of the Board of Directors of MPA, Jassim Al Manna, speaking at a regional meeting Arab bankers in Abu Dhabi, transmit Euronews.
"As a priority we aim to assist countries affected by the protests that swept the Arab world earlier this year. In addition, oil prices could fall due to economic downturn. In this context, I do not see how Arabs could come to the rescue of Europe '- he said, in an attempt to justify that position MPA, write Agerpres.
However, Jassim Al Mann indicated that rich Gulf monarchies often provide financial assistance on a bilateral basis and, potentially, could provide financial aid from the EU countries affected by the debt crisis. But no country in the Gulf has not yet assumed a specific commitment to Europe or through the IMF, or via the EU, he added.
Last year, MPA lent Jordan, Morocco and Yemen in the amount of 548 million dollars - the largest volume of loans in the last 20 years. The total amount of loans to countries in the region totaled $ 6 billion at the end of 2010, writes Agerpres.