On June 13, Deborah A. McCarthy, the principal deputy assistant secretary of the Bureau of Economic, Energy and Business Affairs, spoke about the United States' commitment to engaging with partners and allies in the Middle East. According to McCarthy, the U.S. has taken numerous steps to help the region, including providing financial support to stabilize Egypt and Tunisia's economies.  In addition, the U.S. is also working with parliament to create enterprise ...

A feature in Foreign Affairs details how attempts to repatriate laundered assets by deposed Arab regimes has "highlighted the inadequacy of current international efforts against corruption." Drawing from Switzerland's new law to maintain its reputation as a haven for legitimate financial assets, the author argues that "the United States and its allies should capitalize on such reputational sensitivities by promoting mutually enforced anticorruption standards and exposing those countries that fail to ...

Speaking at the Business Forum Promoting Commercial Opportunities in Iraq on Friday, Secretary of State Hillary Clinton emphasized the importance of continuing to expand U.S. investments in Iraq. She stated that expanding economic opportunities "is as essential as building democratic institutions," as the two "go hand in hand." In the context of the Arab Spring, she argued that Iraq has been "a leader in demonstrating...that democracy delivers." She concluded that "we want ...

On Thursday, the Center for Strategic and International Studies (CSIS) hosted Elizabeth Littlefield, President and CEO of the Overseas Private Investment Corporation (OPIC) to discuss OPIC's role in assisting the economic development of Egypt, Tunisia and the rest of the Middle East and North Africa region.  The event was moderated by Daniel F. Runde, Director of the Project on Prosperity and Development and William A. Schreyer Chair in Global Analysis, at ...

Writing in the Los Angeles Times, David Schenker argues that the United States must increase economic aid to Egypt. He cites rising unemployment and poverty rates, and argues that the "deterioration of the economy could push the trajectory of the revolution in problematic directions," including populism and Islamism. Yet Robert F. Worth writes in New York Times Magazine that the economic problems driving the Jan 25 revolution remain a serious concern, uniting secular ...

Global Witness, an good governance advocacy group, obtained a leaked 2010 report of the Libyan Investment Authority (LIA), the country's sovereign wealth fund, which revealed that major Western banks held over $4 billion of Libyan state funds in various account types.  It notes that $19 billion were held in Middle Eastern banks, and billions more were invested in Western company stocks.  Because, citing the International Criminal Court, “Gaddafi makes no ...

Ahead of appearing at the G8 summit, World Bank Group President Robert B. Zoellick announced up to $6 billion in new support over the next two years for Egypt and Tunisia linked to progress by the two post-revolutionary countries to modernize their economies."The new public engagement in many countries in the Middle East and North Africa offers an opportunity for the region's people to take their destiny in ...

In a joint letter by Secretary of State Hillary Clinton and Secretary of Treasury Timothy Geithner to fellow G8 minister, the two called for the Middle East and the world "to work together to support successful transitions toward democratic societies and more inclusive economies." They argued that G8 countries "share a compelling interest in seeing the transitions in Egypt and Tunisia succeed and become models for the region." ...