Finance Ministers of the G7 Group yesterday pledged to commit U.S. $38 billion in aid to Tunisia, Egypt, Morocco and Jordan in the period between 2011 and 2013, adding that the Transitional National Council in Libya will be invited to join the program. The International Monetary Fund (IMF) also pledged an additional U.S. $35 billion. Finance ministers in the Group of Seven approve of the Deauville Partnership, which includes finance ministers from the MENA region, a statement issued at the conclusion of the G7 meeting read. “We are determined to provide a strong international coordinator for the challenges of the current financial crisis,” the ministers' statement read, without providing specific details of a strategy. “The Group of Seven countries will coordinate growth but European countries must continue to reduce debts they acquire,” said the European Commissioner for Economic Affairs.
