The rebound of capital inflows and crude oil prices has bolstered economic growth in the Middle East, according to the International Monetary Fund. Macroeconomic signs are gaining ground in 2010, which marks a great recovery from last year’s slowdown. However, stress in the banking system and slow credit activities are impeding the momentum. Growth in the emerging markets also fell short in reducing high levels of unemployment.
Meanwhile, United Nations Secretary-General Ban Ki-moon reminded Israel and Palestine to foster mutual trust in proximity talks. Ban urged Israelis to end demolitions, evictions and settlement expansion in East Jerusalem and called on the Palestinians to fulfill their commitment to build their institutions and promote peace and order.