Picking up the pieces
Across the Middle East and North Africa, unprecedented upheavals are creating historic opportunities to expand the circle of democratic societies. But the success of emerging democracies like Egypt and Tunisia will hinge on building strong and inclusive economies that improve people’s lives. Alongside our partners in the Middle East and Europe, the United States stands ...
Across the Middle East and North Africa, unprecedented upheavals are creating historic opportunities to expand the circle of democratic societies. But the success of emerging democracies like Egypt and Tunisia will hinge on building strong and inclusive economies that improve people's lives. Alongside our partners in the Middle East and Europe, the United States stands ready to support these democratic transitions through renewed multilateralism. As economic leaders convene in Washington this week for the G7 and G20 finance ministers meetings, we hope to advance this partnership.
Across the Middle East and North Africa, unprecedented upheavals are creating historic opportunities to expand the circle of democratic societies. But the success of emerging democracies like Egypt and Tunisia will hinge on building strong and inclusive economies that improve people’s lives. Alongside our partners in the Middle East and Europe, the United States stands ready to support these democratic transitions through renewed multilateralism. As economic leaders convene in Washington this week for the G7 and G20 finance ministers meetings, we hope to advance this partnership.
Over the last two decades, under their previous authoritarian governments, Egypt and Tunisia moved toward market economies and privatization, but corruption and weak institutions created an uneven playing field, with the benefits of growth not widely shared. Where reforms occurred, implementation was often inconsistent. Whether it was a new firm seeking a license, a new university graduate applying for a job, or a newly married couple securing a loan, the rules of business, employment, and finance were unclear. The status quo too often protected incumbents and excluded new talent.
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