Latest news with #Gulfstates
Yahoo
3 days ago
- General
- Yahoo
Despite dangers, migrant flow persists between Horn of Africa and Yemen
According to the International Organization of Migration, the route from the Horn of Africa to Yemen is one of the busiest – and deadliest – in the world. Hoping to find work in the oil-rich Gulf states, thousands of Africans, many from Ethiopia, risk their lives on perilous sea journeys. But despite the high number of deaths each year, the route garners less media attention than other migratory flows. Thousands of Africans travel from Djibouti to Yemen across the Red Sea and the Gulf of Aden every year, hoping to reach Gulf states such as Saudi Arabia to work as labourers or domestic workers. The Eastern route is one of the world's most dangerous, according to the International Organization of Migration (IOM), which documented at least 558 deaths in 2024, including 462 from shipwrecks. Overall, the United Nations agency estimates that 3,400 people have died using this route over the past 10 years. On Sunday a boat carrying nearly 200 people sank off the Yemeni coast, killing more than 90 of them, with some still missing. Death roll climbs in Yemen migrant boat sinking with dozens still missing Ethiopia's permanent mission in Geneva responded by urging its citizens to "avoid irregular routes". The IOM said that it was "working with partners to mobilise resources and deliver humanitarian assistance to protect people on the move, as well as to support the government to respond to migration crisis". In March, at least 180 people were reported missing off the Yemeni coast, the majority of them from Ethiopia. Abdusattor Esoev, the IOM's head of mission in Yemen, told RFI that: "A network of cross-border smugglers exploits the desperation of people who need better jobs and better opportunities." Lack of interest The IOM estimates that 60,000 people landed in Yemen in 2024 alone. Marina de Regt, an anthropologist at the Free University of Amsterdam who specialises in migration in this region, agrees that "the numbers are enormous". "In many cases, migrants pay and don't even know they have to cross the sea and then go through Yemen before arriving in Saudi Arabia," she told RFI. She is concerned about the lack of interest shown by the international community in this busy and dangerous migratory route. "These migrations between countries in the South are not considered important by political decision-makers, particularly in Europe. All that matters to [them] is that the migrants do not end up on [their] territory." She explains why Ethiopians represent the highest number of people trying to reach the Persian Gulf countries, saying: "Ethiopia is going through a very difficult time. The Tigray War (2020-2022) is over, but instability persists and there is a lot of poverty." UN food agency forced to halt aid in Ethiopia for 650,000 women and children Caught in conflict Crossing the Red Sea or the Gulf of Aden in rickety boats isn't the only danger for migrants making the journey. In Yemen, a country gripped by civil war, they face an increased risk of violence. "In addition to the war situation, which results in a lack of food and great insecurity, the exploitation of migrants and refugees is common," said de Regt. "People are sometimes kidnapped by gangs and migrant women are sexually exploited by criminals." Last April, East African migrants also found themselves caught up in the military escalation between the United States and Houthi rebels in Yemen. Sixty-eight people were killed and dozens more injured in US strikes on a migrant detention centre in Sanaa, a rebel stronghold. Thirty-eight migrants found drowned after shipwreck off Djibouti In 2023, the NGO Human Rights Watch revealed that Saudi border guards killed hundreds of Ethiopian migrants and asylum seekers attempting to cross the border between Yemen and Saudi Arabia, between March 2022 and June 2023. "The guards at the checkpoints shoot randomly at migrants trying to cross. Crossing the Saudi border is a very risky undertaking," said de Regt. While some manage to find work in Saudi Arabia, many migrants remain in a precarious situation, at risk of arrest and deportation. "Sometimes men are deported to Ethiopia – but they start again, even though they know how risky the journey is," she said. "They will start again because they are desperate." This story has been adapted from the original RFI report in French.
Arabian Business
30-07-2025
- Business
- Arabian Business
IMF lifts Saudi Arabia's 2025 growth forecast to 3.6%
The International Monetary Fund has raised its 2025 economic growth forecast for Saudi Arabia to 3.6 per cent, up from 3 per cent in April, citing stronger non-oil performance and the phasing out of OPEC+ oil production cuts. The upgrade means Saudi Arabia is now expected to outpace the global average growth rate of 3 per cent next year, and surpass that of most neighbouring Gulf states, according to the IMF's latest World Economic Outlook Update, released on Tuesday. IMF raises Saudi growth forecast again The Fund also raised its 2026 projection for the Kingdom to 3.9 per cent, anticipating a sustained pickup in economic activity before growth stabilises at around 3.5 per cent in the medium term. Saudi Arabia raised crude output for a second consecutive month in June to 9.4 million barrels per day, as the OPEC+ group began unwinding voluntary supply curbs. That follows a period in which the Kingdom's production fell to an average of 9 million bpd in 2023 – its lowest since 2010 – down from a record 10.6 million bpd in 2022. The IMF now expects oil prices to fall by 13.9 per cent this year, a smaller drop than the 15.5 per cent forecast in April. While geopolitical tensions between Israel and Iran temporarily lifted prices, the report said bearish fundamentals had since returned to focus. Despite oil's outsized role in the budget – still providing nearly two-thirds of Saudi government revenues – the IMF highlighted the resilience of the non-oil economy as a key driver of growth. Non-oil GDP is forecast to grow by 3.4 per cent in 2025, slightly below the 4.2 per cent recorded in 2024, before stabilising near 3.5 per cent by the end of the decade. The IMF noted that labour market conditions have improved, with unemployment among Saudi nationals falling to a record low of 7 per cent in 2024. Inflation remains contained near 2 per cent, aided by the riyal's peg to the US dollar and an extensive subsidy framework. In terms of fiscal policy, the IMF said increased government spending in 2025, resulting in a budget deficit above initial targets, was justified. It warned that cutting expenditure in response to lower oil prices would risk procyclical fiscal tightening and weigh on growth. Instead, it recommended gradual fiscal consolidation over the medium term through higher non-oil revenues, reduced energy subsidies, and streamlined public spending. The Saudi banking sector remains resilient, despite some pressure from strong credit growth and rising funding costs, the Fund said. The central bank has introduced a countercyclical capital buffer and continues to strengthen its regulatory framework. The report emphasised the importance of structural reforms to support economic diversification and reduce reliance on hydrocarbons. It urged continued progress in governance, human capital, digitalisation, and capital market development, regardless of oil price fluctuations. Among the 30 countries highlighted in the IMF's latest outlook, only China saw a larger upward revision to its 2025 growth forecast. The global economy is now projected to grow 3 per cent in 2025, up from 2.8 per cent in April, and 3.1 per cent in 2026. 'Risks to the global economy remain firmly to the downside,' IMF Chief Economist Pierre-Olivier Gourinchas said on Tuesday. 'The current trade environment remains precarious.'
Bloomberg
12-07-2025
- Business
- Bloomberg
Who Else Benefits From Syria's Postwar Recovery
During more than a decade of war in Syria, plenty of external powers got involved. The hope now for the country's shattered economy is that at least some of them will want a stake in its recovery, too. One way or another, the US, Turkey and Gulf states like Qatar and Saudi Arabia provided support to the opposition forces who finally succeeded in ousting President Bashar al-Assad late last year. The conflict left hundreds of thousands dead and millions displaced. Syria's economy shrank more than 50% — turning it into one of the world's poorest nations.
