Saturday, June 25, 2011

Jordanian official says Arab unrest causing $500 million a week capital flight from Middle East

The spread of anti-government civil unrest in the Arab region is causing capital flight of up to $500 million a week, Jordanian Finance Minister Mohammed Abu Hammour said on Thursday at an Arab banking conference in Rome.

"There is capital flight. Five hundred million dollars a week are leaving the Arab world. Tourism is falling, foreign direct investment is falling," Mr. Hammour said, according to AFP.