A forthcoming World Bank report entitled “Building Effective Employment Services for Unemployed Youth in the Middle East and North Africa”, concludes that in order to help unemployed workers in the region obtain the skills required for the available jobs, there is an urgent need to reform existing employment programs.
For defenders of women’s rights in Tunisia, the figure of Tahar Haddad looms large. For generations of women’s rights activists in Tunisia, he has been seen as the brains and heart behind the country’s progressive legal status of women. Houda Bouriel, director of the Cultural Center of Tahar Haddad in Tunis, notes that for Haddad, “a society in which women are not liberated is not truly free.”
People are talking about a relatively new financial instrument — called social impact bonds (SIBs) — that can help governments implement social programs without using taxpayers' monies, that is, unless the programs work. In fact, the Economist magazine recently had an article about SIBs. These bonds were introduced by the British in 2010. New York City, working with Goldman Sachs, launched a SIB last year. The White House is exploring SIBs to finance some Department of Labor programs. And emerging markets, with the help of international development agencies, are also showing an interest.
Financial Markets…Spanish and Italian government bonds bounced back from their earlier losses, with their benchmark 10-year yields dropping 6 basis points to 5.17% and 4 bps to 4.36%, as a report showed German investor confidence surged to the highest level in nearly three years this month, boosting risk-appetite for the region’s high-yielding debt. Notably, Spain sold €4 billion ($5.35 billion) of 3- and 9-month bills with an average yield of 0.421%, down from 0.441% in January auction.
When the Arab Spring broke out and regimes began to fall under the pressure of their own citizens, a revolution on social media also took hold. During this critical period, the use of Facebook and Twitter was ubiquitous, especially in Egypt and Tunisia. Social networks and cell phones played an important role.
From the pyramids showcasing the world’s first great civilization, to the sandy white beaches of the southern Mediterranean, religious sites and pristine eco-reserves, the Middle East and North Africa region is chock full of unique tourist attractions. Tourism in MENA does not only satisfy the hedonistic wishes of vacationers – it is an important sector for economic development and job creation.
The end of 2011 was undeniably a momentous time across the Arab World with uprisings first emerging in Tunisia and Egypt and then spreading to Libya, Yemen, and Syria. Expectations of 2012 were high as old regimes were discarded and new governments brought with them hopes of more equitable societies and opportunities for all.
Tune in for the live streaming of a virtual knowledge sharing forum on the topic of jobs on January 16 and January 17 at 8:30 AM EST (3:30 PM Istanbul time). This is a unique opportunity for anyone interested in this issue to connect with experts and top-level practitioners with just a few clicks. Participate in the debate, ask questions and share your views!
January 14 marks two years to the day since the Tunisian uprising of 2011 and on the outside, things are moving in the right direction. Democratic elections, the drafting of a new constitution and new-found freedoms are examples that change has come. But within Tunisia, there is growing skepticism that the demands of the revolution have not been met.
During my time in Lebanon last summer, I convinced a close friend, Maroun, to start a small manufacturing firm for producing soap and shampoo. Eventually, he got the business off the ground, but there is no such thing as a free lunch. I witnessed the pain that Maroun had to go through to formally register and set up his business.